Imports of Unwrought Aluminum Alloy Rebounded MoM in September 2025 but Remained in a Downward Cycle YoY [SMM Analysis]

The General Administration of Customs recently released import and export data for September 2025. Customs data showed:

In September 2025, unwrought aluminum alloy imports totaled 82,200 mt, down 13.2% YoY but up 15.7% MoM. Cumulative imports from January to September 2025 reached 764,700 mt, a decrease of 14.1% YoY.

In September 2025, unwrought aluminum alloy exports amounted to 23,500 mt, up 2.1% YoY but down 19.2% MoM. Cumulative exports from January to September 2025 stood at 197,800 mt, an increase of 9.6% YoY.

By import source, the top five countries for China's unwrought aluminum alloy imports in September 2025 were Russia (25,000 mt, 30%), Malaysia (23,600 mt, 29%), Thailand (10,500 mt, 13%), Vietnam (6,000 mt, 6%), and South Korea (2,400 mt, 3%), with the remaining sources accounting for less than 20%. Compared with August, the rebound in September imports was mainly driven by increased imports from Russia, Thailand, and South Korea among the top five sources, while imports from Malaysia and Vietnam declined.

In September, Russia surpassed Malaysia for the first time to become China's largest source of unwrought aluminum alloy imports. By trade mode, Processing with Imported Materials accounted for 43% of China's aluminum alloy imports from Russia (of which 63% were sold to Henan Province), followed by Entrepot Trade by Customs Special Control Area, while Ordinary Trade accounted for only 1%.

In September 2025, China's exports of unwrought aluminum alloy amounted to 23,500 mt, down 6,000 mt MoM, but remained at a relatively high level above 20,000 mt. By export structure, Japan ranked first with exports of 11,600 mt, though its share dropped to 49% from 59% in the previous month, followed by Mexico (16%) and India (9%) in second and third place, respectively. Processing trade remained the primary export method. In September 2025, the top five provinces in China by unwrought aluminum alloy imports were Zhejiang (28,300 mt, 34%), Shandong (12,700 mt, 15%), Henan (10,600 mt, 13%), Jiangsu (6,900 mt, 8%), and Guangdong (5,400 mt, 7%), with the remaining provinces accounting for a combined 22%.

Overall, in September 2025, China's imports of unwrought aluminum alloy continued to grow MoM but still fell 13% YoY, while exports dropped back slightly MoM but maintained positive YoY growth for the seventh consecutive month. On the import side, September imports increased by 11,200 mt from the previous month, with exports from Russia to Henan via Processing with Imported Materials being the main source of growth, while Ordinary Trade saw a MoM increase of about 1,063 mt. Since September, overseas ADC12 offers have risen to the range of $2,500–2,570/mt. Driven by rising domestic prices and a stronger yuan, import cost advantages have emerged. Combined with demand support from the September-October peak season, September imports showed a rebound trend, and October imports are expected to remain above 80,000 mt.