Costs down and prices up, the aluminium industry's average profit broke through RMB 5,000 per tonne in October
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Update time : 2025-11-04 15:49:09
According to SMM data, the average tax-inclusive full cost of China's aluminium industry in October 2025 was RMB 15,889 per tonne, down 1.8 per cent M-o-M and 13.3 per cent Y-o-Y, mainly due to the decline in the average monthly spot alumina price during the period, leading to lower costs. SMM data showed that the monthly average of the SMM alumina index in October was RMB 2,938 per tonne (September 26–October 25), down RMB 175 per tonne M-o-M, and the weighted average alumina cost for the national aluminium industry fell 5.5per cent M-o-M. The average SMM A00 spot price was approximately RMB 20,911 per tonne (September 26–October 25), with the average profit in the domestic aluminium industry reaching about RMB 5,022 per tonne.
By the end of October 2025, domestic operating aluminium capacity remained at 44.05 million tonnes, with the lowest full cost at about RMB 13,230 per tonne and the highest full cost at about RMB 19,477 per tonne. If calculated based on the monthly average price, 100per cent of the operating aluminium capacity in China was profitable in October.
