Chinese Prebaked Anode Prices Rise by 385 Yuan/mt for April 2026

[SMM Aluminum Flash] SMM learned that the April tender price for prebaked anodes at a large aluminum plant in Shandong rose by 300 yuan/mt MoM. The spot execution price for prebaked anodes in April 2026 was 5,474 yuan/mt, and the acceptance price was executed at 5,503 yuan/mt.

[SMM Flash] SMM data showed that the PMI of the secondary aluminum industry in March rebounded sharply by 40.9 percentage points MoM to 68.8, returning above the 50 mark. In March, enterprises basically resumed normal production, and downstream demand gradually recovered. Both the production and new orders of secondary aluminum enterprises in March increased significantly from February. In April, orders for secondary aluminum are expected to weaken, and the industry PMI is expected to pull back below the 50 mark.

[Supply Tightening Coupled With Macro Tailwinds Keeps Aluminum Prices Firmly at High Levels] Overall, the geopolitical situation in the Middle East remains the core factor affecting the global aluminum market. A series of production cuts and damage incidents at Middle Eastern aluminum plants is expected to provide strong upward momentum for aluminum prices in and outside China, together with support from expectations of gradually releasing peak-season demand in China. In the short term, aluminum prices are expected to remain in a high-level consolidation pattern.