Yuefeng Aluminum Statistics show that in May 2026, the average comprehensive electricity cost for the electrolytic aluminum industry in China was 0.4096 yuan per kilowatt-hour, down by 0.0071 yuan per kilowatt-hour from 0.4167 yuan per kilowatt-hour in April 2026, representing a decline of 1.70%. Compared with the same period last year, it dropped by 2.75%. The average electricity cost in 2026 was 0.4176 yuan per kilowatt-hour.
In the thermal power sector, in April, there was a moderate increase in domestic thermal coal prices due to strong demand from downstream industries. This led to a slight rise in the thermal power prices for some electrolytic aluminum enterprises in May.
In terms of hydropower, some regions are transitioning to the rainy season, resulting in a decrease in hydropower prices. This, combined with other factors, led to a 5% decrease in the overall electricity cost used by the aluminum electrolysis industry in May compared to the previous month.
In May, there was a strong sentiment of price increase in the market. The domestic thermal coal prices rose significantly, which will continue to drive up the electricity prices of thermal power plants. However, after officially entering the peak water period, the prices of hydropower will continue to decline.
Overall, it is expected that the comprehensive electricity cost for the aluminum electrolysis industry will continue to decline in May 2026.
