The price spread factor boosted China's alumina exports to a new high in March.

According to the online query data from the General Administration of Customs, China's alumina exports in March 2025 reached 296,728 mt, up 43.15% MoM and 105.89% YoY, hitting a new high in recent years. Since last year, exports have shown a continuous upward trend. This year, domestic alumina supply has continued to increase, with a strong surplus expectation, leading to a continuous decline in prices, and the drop has been significantly faster than in overseas markets. With the price spread between domestic and overseas markets still large, traders still have profit margins, resulting in strong export momentum. However, recently, overseas alumina prices have also shown a significant softening trend, and attention should be paid to changes in the price spread between domestic and overseas markets. Data source: General Administration of Customs