Yuefeng Aluminum Statistics show that in May 2026, the average tax-inclusive production cost of the Chinese electrolytic aluminum industry was 15,878.76 yuan per ton, a decrease of 0.30% compared with the previous month and a decrease of 2.31% compared with the same period in 2025. From January to May 2026, the average tax-inclusive production cost of the Chinese electrolytic aluminum industry was 15,813.09 yuan per ton.
In May 2026, the average complete cost (including sales) of China's electrolytic aluminum industry, including taxes, was 16,242.74 yuan per ton, a decrease of 0.29% compared with the previous month and a decrease of 2.29% compared with the same period in 2025. From January to May 2026, the average complete cost (including sales) of China's electrolytic aluminum industry, including taxes, was 16,176.87 yuan per ton.
In terms of alumina, in May (the settlement month), the alumina market was dominated by price fluctuations. The market price rose initially and then fell. The settlement price of alumina in May (from 4.26 to 5.25) was 2,691 yuan per ton, down 41 yuan per ton compared with the previous month, representing a decline of 1.50%.
In terms of pre-baked anodes, the purchase benchmark price of pre-baked anodes at a certain aluminum plant in Shandong increased by 200 yuan/ton compared to April 2026, and the current spot price was 5,674 yuan/ton. Regarding electricity prices, the average comprehensive electricity cost for the electrolytic aluminum industry in China in May 2026 was 0.4096 yuan/kWh, showing a环比 decrease.
Overall, in May, the tax-inclusive production cost of China's electrolytic aluminum industry decreased compared with the previous month. In terms of prices, the spot settlement price of Baichuan Yingfu in May 2026 was 24,317.39 yuan/ton, down by 209.13 yuan/ton, or 0.85%, compared with the previous month. Based on production costs, the theoretical average profit of the electrolytic aluminum industry in May 2026 was 8,438.63 yuan/ton, down by 1.87% compared with the previous month. It is expected that the electricity price, pre-baked anode, and alumina prices will all have room for decline in June 2026. Overall, it is expected that the theoretical cost of the electrolytic aluminum industry may continue to decrease in June.
