Core Insights - The International Aluminium Institute (IAI) reported a 0.6% year-on-year increase in global primary aluminum production for October, reaching 6.294 million tons, with a daily average production of 203,000 tons [1] - Excluding China and unreported regions, the primary aluminum production in October was 2.314 million tons, with a daily average of 74,600 tons [1]

Core Viewpoint - The National Bureau of Statistics reports that China's primary aluminum (electrolytic aluminum) production in September 2025 reached 3.81 million tons, reflecting a year-on-year increase of 1.8% [1] Industry Summary - In September, domestic electrolytic aluminum operating capacity showed a slight recovery, with the aluminum water ratio in electrolytic aluminum plants also experiencing a minor increase, resulting in stable production levels [1] - As October begins, SMM indicates that the commissioning and resumption of replacement and technological transformation projects are expected to further boost electrolytic aluminum production, with daily average production anticipated to grow [1]

Core Insights - China's primary aluminum (electrolytic aluminum) production in August 2025 was 3.8 million tons, a year-on-year decrease of 0.5% [1] Production and Capacity - In August, the electrolytic aluminum production capacity in Shandong continued to shift towards Yunnan, while the capacity in Qinghai was fully replaced and put into operation [1] - The early-stage technological transformation projects in Guangxi began to resume production, leading to a slight increase in operational capacity and a marginal rise in production [1] - As of September, SMM indicated that with the gradual commissioning of replacement projects, domestic electrolytic aluminum operational capacity is expected to see a slight increase, with daily aluminum ingot production achieving growth [1]