In June 2026, China's primary aluminum trade exhibited a pronounced divergence, marked by contracting imports and surging exports. Imports declined sharply in both volume and value, while their origins remained highly concentrated, with Russia retaining its firm lead as the top supplier.
On the export front, Asian markets asserted clear dominance, with South Korea and India collectively accounting for nearly 80% of total outbound shipments. Export volumes soared across the board, with dispatches to South Korea registering a month-on-month explosion.
Total primary aluminum imports for June reached approximately 167,100 tonnes, reflecting a year-on-year decrease of 13.15% and a month-on-month drop of 19.74%. Cumulatively, imports for the first six months amounted to roughly 1.29 million tonnes, up 2.92% compared to the same period last year.
Exports demonstrated robust growth, hitting 38,400 tonnes in June-a staggering 95.45% increase year-on-year and a 72.97% rise month-on-month. From January to June, cumulative exports totaled about 114,100 tonnes, marking a 31.7% increase over the previous year.
Consequently, net imports of primary aluminum in June stood at approximately 128,700 tonnes, down 25.5% year-on-year and 30.81% month-on-month. The cumulative net import volume for the first half of the year reached 1.17 million tonnes, representing an 18.35% increase year-on-year.
In terms of import origins, the concentration of import sources persisted, with Russia maintaining absolute dominance. Imports from the Russian Federation totaled 152,600 tonnes, capturing a massive 91.3% market share. However, this figure saw a sequential decline of 19.5% and a year-on-year dip of 6.1%.
Notably, within these Russian imports, the share attributed to the outward processing trade regime surged significantly, accounting for approximately 52.8%. Furthermore, the import arbitrage window has remained persistently shut, continuing to suppress import willingness among domestic buyers.
Exports were primarily directed toward India and South Korea, which together accounted for nearly 80% of the total volume. Shipments to South Korea experienced a meteoric rise, surging by 232% month-on-month and 200% year-on-year. Turkey and the United States also remained key export markets.
Overall, while the export landscape continues to show signs of diversification, Asia remains the unequivocally dominant region in terms of destination.
Written by Regina WANG
wangjiaqie@mysteel.com
