Prebaked Anode Exports Showed Resilience in September, with Prices Rising Significantly on Cost Support [SMM Analysis]

SMM Oct 23:

According to customs data, China's prebaked anode exports totaled 206,300 mt in September 2025, up 11.90% YoY but down 1.06% MoM. The average export price of prebaked anode in September 2025 was roughly $772.44/mt, up 19.40% YoY and 0.85% MoM. China's cumulative prebaked anode export volume reached 1.6445 million mt in 2025, an increase of 4.10% YoY.

Domestically, prebaked anode exports in 2025 were concentrated in Shandong, Jiangsu, and Hunan, with Shandong leading at 1.244 million mt (76% of the total), followed by Jiangsu at 138,100 mt (9%), and Hunan at 127,400 mt (8%).

In terms of export destinations, China's main prebaked anode export countries in 2025 were Malaysia, Canada, and Indonesia, accounting for about 49% of total exports. Exports to Malaysia totaled 360,000 mt (22% of the total, down 14.87% YoY), to Canada 237,800 mt (15%, up 13.61% YoY), and to Indonesia 203,900 mt (12%, up 84.40% YoY).

September 2025 prebaked anode export volume showed relatively small fluctuations compared to the previous month. Specifically, export orders to Canada, the UAE, Indonesia, and Germany saw significant increases, each rising by over 10,000 mt, with a total increase exceeding 57,600 mt. However, orders to Malaysia, Spain, Iceland, and Saudi Arabia declined substantially, with reductions of over 9,000 mt each and a total decrease of around 48,100 mt. Price-wise, prebaked anode export prices increased in September, with the average export price up 19.40% YoY. Supported by rising raw material prices in the domestic market, prebaked anode prices continued to climb in October. According to the SMM survey, export order prices in October were predominantly higher, with adjustments mainly in the range of $10-20/mt. Overall, current prebaked anode export orders demonstrate ample resilience, and the upward price trend remains solid. With ongoing expansion in overseas aluminum capacity and China's cost advantages in the industry chain, the broad prospects of the overseas market will provide sustained momentum for the growth of China's prebaked anode exports.