China's Aluminum Exports Down 2% MoM, Up 15% YoY in May 2026

[SMM Aluminum Express] The daily inventory of secondary aluminum alloy ingots in major consumption areas in China today was 21,600 mt, down 226 mt from the previous day.

[Macro Headwinds Dominate Futures; SHFE and LME Aluminum Both Remain in the Doldrums] The US Fed’s hawkish pivot boosted the US dollar index, weighing on nonferrous metal prices. The Middle East geopolitical situation showed some volatility but no signs of deterioration. Under macro headwinds, aluminum prices in and outside China fell. In the short term, bearish factors dominate, and aluminum prices are expected to remain in the doldrums. Continued attention should be paid to production resumptions in the Middle East, overseas aluminum ingot inventory trends, and macro news fluctuations.

[SMM Cast Aluminum Alloy Morning Comment: Aluminum Alloy Night Session Decline Slows Down, Continuous Destocking and Firm Aluminum Scrap Keep Market Cautiously Wait-and-See] On Thursday, mainstream enterprises' quotes for ADC12 were generally lowered by 100–200 yuan/mt, and the SMM ADC12 price fell by 150 yuan/mt from the previous day to 23,850 yuan/mt. Amid the continuous price decline, downstream clients' purchasing enthusiasm did not significantly improve, with just-in-time procurement remaining dominant, wait-and-see sentiment relatively strong, and restocking willingness insufficient.