MYSTEEL: China's primary aluminum supply-demand balance may tighten in 2026

China's primary aluminum market is likely to see a tightening supply-demand balance in 2026, with slower supply growth contrasting with resilient downstream demand, according to Mysteel's latest forecast report on the sector.

In 2025, the total supply of primary aluminum in China, including both domestic production and imports, reached an estimated 46.64 million tonnes, up 3.1% from the previous year, Mysteel estimated. Mysteel's regular tracking of the 89 primary aluminum smelters across China shows that their total production in 2025 rose by 2.7% on