The cost of China's electrolytic aluminum industry in September 2025
October 15, 2025
According to statistics from Yuefeng Aluminum, the average tax-inclusive production cost of China's electrolytic aluminum industry in September 2025 was 15,917.42 yuan per ton, a decrease of 1.64% month-on-month and 10.04% year-on-year. From January to September 2025, the average tax-inclusive production cost of China's electrolytic aluminum industry was 16,858.02 yuan per ton. In September 2025, the average full cost (including sales) of China's electrolytic aluminum industry including tax was 16,280.82 yuan per ton, a decrease of 1.60% compared with the previous month. From January to September 2025, the average total cost (including sales) of China's electrolytic aluminum industry, including tax, was 17,223.82 yuan per ton. In terms of alumina, the profits of enterprises in September were acceptable. Most enterprises had a high production willingness, and the operating capacity remained at a high level. The oversupply led to a continuous decline in the price of alumina. The settlement price of alumina in September (August 26- September 25) was 3,110 yuan per ton, a decrease of 146 yuan per ton compared with the previous month, representing a decline of 4.48%. In terms of pre-baked anodes, the benchmark purchase price of pre-baked anodes at a certain aluminum plant in Shandong Province in September 2025 was 93 yuan per ton higher than that in August, and the current exchange rate was 4,832 yuan per ton. In terms of electricity prices, the average comprehensive usage electricity price for China's electrolytic aluminum industry in September 2025 was 0.3852 yuan per kilowatt-hour, showing a slight decrease compared to the previous month. Overall, affected by the price of alumina, the tax-inclusive production cost of China's electrolytic aluminum industry decreased month-on-month in September. In terms of price, the spot settlement price of Baichuan Yingfu in September 2025 was 20,731.65 yuan per ton, an increase of 130.17 yuan per ton compared with the previous month, representing a growth of 0.63%. Based on production costs, the theoretical average profit of the electrolytic aluminum industry in September 2025 was 4,814.23 yuan per ton, an increase of 8.93% compared with the previous month. The industry continued to maintain a significant profit. In October 2025, the purchase price of pre-baked anodes is expected to rise, electricity prices are projected to increase slightly, and the average price of alumina is likely to continue to decline. Based on a comprehensive estimate, the theoretical cost of the electrolytic aluminum industry is expected to decrease in October.
