Xinjiang Qiya Aluminum Builds Captive Prebaked Anode Project 

In March 2025, prebaked anode production saw significant growth, benefiting from improved operating conditions in some regions and additional production days compared to February. Currently, prebaked anode enterprises strictly organize production based on orders, and industry supply remains ample. On the demand side, domestic aluminum operating capacity is steadily climbing, and overseas orders in 2025 are highly optimistic, indicating strong demand for prebaked anode in both domestic and overseas markets. In the short term, prebaked anode enterprises are operating steadily, with prices continuing to rise and downstream demand steadily increasing. SMM predicts that prebaked anode enterprises' operating rates are likely to remain high and stable in April. Moving forward, it is essential to closely monitor the operating conditions of prebaked anode and downstream aluminum enterprises to promptly grasp industry dynamics and market trends.

Overall, at the beginning of 2025, prebaked anode export orders performed well, increasing by about one-third compared to the same period last year, especially for orders to Indonesia and Canada, which saw significant growth. However, orders to Malaysia decreased significantly, mainly due to a reduction in demand from Malaysian aluminum enterprises following a sudden accident that led to capacity shutdowns. According to SMM, the overall performance of export orders in 2025 was excellent, primarily due to increased demand from new capacity additions and capacity recovery in the overseas aluminum market. Since Q1, domestic prebaked anode prices have risen substantially, supported by a sharp increase in raw material prices, and overseas order prices have also increased accordingly. Based on current information, SMM expects prebaked anode exports in Q1 2025 to be around 550,000 mt.