Aug Unwrought Aluminum Alloy Imports Continued to Recover MoM, Export Growth Narrowed [SMM Analysis]

Customs data shows:
In August 2026, unwrought aluminum alloy imports were 71,500 mt, up 0.2% YoY and up 19.5% MoM. Cumulative imports from January to August 2026 were 564,900 mt, down 17.4% YoY.
In August 2026, unwrought aluminum alloy exports were 51,600 mt, up 77.6% YoY but down 11.9% MoM. Cumulative exports from January to August 2026 were 348,700 mt, up 100.1% YoY. 

By import source, in August 2026, China’s imports of unwrought aluminum alloy were highly concentrated in Russia and Southeast Asian countries. The top five sources that month—Russia, Malaysia, Thailand, Vietnam, and South Korea—totaled 55,200 mt, accounting for 77.2% of total imports. Specifically, Russia ranked first with 18,000 mt (25%), followed closely by Malaysia with 17,500 mt (24%); Thailand recorded 11,500 mt (16%), Vietnam 4,800 mt (7%), and South Korea 3,400 mt (5%).

By export destination, Japan and South Korea were China’s core export markets for unwrought aluminum alloy, with Asia dominating. Exports to Japan that month were 23,500 mt, accounting for 46% of total exports and firmly ranking first; exports to South Korea were 8,400 mt (16%), ranking second. Exports to Mexico, Vietnam, and Thailand were 3,200 mt, 2,800 mt, and 2,300 mt, accounting for 6%, 5%, and 5%, respectively. The top five destinations accounted for about 78% in total, indicating a relatively clear market concentration. In addition, there were also some exports to markets such as India, Brazil, and Taiwan, China. 

Overall, aluminum alloy imports have risen MoM for two consecutive months as of August, with import volumes continuing to recover, though they remained basically flat YoY. Exports, while still posting substantial YoY growth, have pulled back MoM for two straight months, indicating that the earlier strong export growth momentum has weakened somewhat.

Imports: Imports rose MoM for two consecutive months, with the recovery continuing and some room for a modest rebound ahead. August imports of unwrought aluminum alloy came in at 71,500 mt, up 19.5% MoM, marking the second straight month of MoM growth and basically flat YoY. A pullback in overseas aluminum alloy quotes and a narrowing price spread between Chinese and overseas markets helped ease import losses from earlier levels, bringing some previously delayed cargoes into port and driving a continued recovery in import volumes. That said, overall imports remain at a relatively low level, the import window has not fully opened, and room for substantial expansion in the near term is limited. Entering September, domestic ADC12 prices have kept rising amid stricter enforcement of tax invoice policies, while overseas ADC12 quotes have largely held at $3,100–3,200/mt. At the same time, the yuan has strengthened past the 6.70 mark, and spot import gains and losses have gradually narrowed to around the break-even line, with import economics improving notably from earlier levels. Import volumes are expected to have some room for a modest rebound going forward.

Exports: High YoY growth continued, but MoM declines persisted for two consecutive months, pointing to weakening growth momentum. August exports of unwrought aluminum alloy came in at 51,600 mt, still maintaining a relatively high YoY growth rate, but down MoM for the second straight month, with marginal export expansion momentum softening from earlier levels. Overseas demand and earlier orders continued to underpin exports, but the two consecutive months of MoM declines suggest that incremental export momentum is weakening. Combined with the high base from the prior period and narrowing price advantages in some overseas markets, exports are likely to remain at highs going forward, though growth may slow further.