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The aluminum water ratio in May is expected to increase by 0.5 percentage points to 75.8%.
According to SMM statistics, in April 2026 (30 days), domestic electrolytic aluminum production increased by 1.7% year-on-year and decreased by 2.9% month-on-month.
During that month, due to the peak season, demand for sheet, strip, foil, aluminum wires, and cables was supported, and the proportion of molten aluminum slightly increased, rising about 1.7 percentage points to 75.3%, slightly below the early-month expectations.
The main reason is that the decline in profile orders exceeded expectations.
Based on SMM’s data on the proportion of molten aluminum, the domestic electrolytic aluminum casting ingot volume in April decreased by 3.4% year-on-year and 9.0% month-on-month.
According to SMM statistics, entering May 2026, the aluminum water proportion of enterprises fluctuated, but overall, as overseas demand for processed materials in China continued to boost, the molten aluminum proportion is expected to slightly rebound.
Overall, the molten aluminum proportion is expected to rise by 0.5 percentage points to 75.8%.
(SMM)