[SMM Analysis: China’s Aluminum Foil Exports Edged Down 0.74% YoY in January-February, Geopolitical Conflicts Disrupted the Middle East Trade Chain] According to customs data, China’s total aluminum foil exports in January-February 2026 (tariff codes 76071110, 76071120, 76071190, 76071900, 76072000) reached 214,800 mt, down 0.74% YoY from 2025, of which exports were 121,100 mt in January, up 2% YoY, and 93,700 mt in February, down 4% YoY.

[SMM Analysis]Analysis of Import and Export Data for Unwrought Aluminum Alloy, January-February 2026

According to data from the General Administration of Customs, China exported 12,052.46 mt of copper enamelled wire in January 2026, down 1.19% YoY; exports were 10,239.85 mt in February, up 39.64% YoY; cumulative exports in January-February 2026 reached 22,292.31 mt, up 14.14% YoY on a cumulative basis. (HS code 85441100)

It is worth noting that the overall overseas ternary cathode demand outlook for 2026 remains subdued. The U.S. market has been sluggish since the fourth quarter of last year, prompting many overseas manufacturers to place their hopes on the European market.

From January to February 2026, China's air conditioner production reached 40.118 million units, up 0.7% YoY. From January to February, national refrigerator production reached 16.643 million units, up 6.5% YoY. From January to February, national washing machine production reached 18.579 million units, down 0.8% YoY. From January to February, national color TV production reached 24.678 million units, up 2.3% YoY. In February 2026, China exported 6.84 million air conditioners, up 1.2% YoY; cumulative exports from January to February totaled 13.15 million units, down 6.5% YoY. Refrigerator exports reached 6.93 million units in February, up 26.6% YoY; cumulative exports from January to February totaled 14.91 million units, up 18.6% YoY. Washing machine exports reached 2.7 million units in February, up 18.1% YoY; cumulative exports from January to February totaled 6.1 million units, up 11.8% YoY. LCD TV exports reached 8.53 million units in February, up 34.4% YoY; cumulative exports from January to February totaled 17.69 million units, up 17.2% YoY.

According to the latest release from the General Administration of Customs, SMM statistics showed that China’s SiMn exports were 2,539.52 mt in January 2026, down 50.55% MoM and down 31.84% YoY. China’s SiMn imports were 0 mt in January 2026, down 100% MoM and down 100% YoY. By import and export regional structure, SiMn exports were mainly destined for Indonesia.

According to customs data, China’s exports of bismuth trioxide in January 2026 were 677.56 mt, versus 570.97 mt in December 2025, showing a clear MoM increase. Market participants said that, judging from the overall changes in exports, China’s bismuth oxide exports had trended upward in almost every month since September 2025, indicating that bismuth oxide enterprises still maintained strong export momentum and that demand outside China was also increasing significantly.

According to customs data, China’s bismuth trioxide exports were 753.74 mt in February 2026, versus 677.56 mt in January 2026, continuing to increase MoM. Looking at the overall change in exports, since September 2025, China’s bismuth oxide exports had risen almost every month, indicating that bismuth oxide enterprises still had strong export willingness and demand outside China was also increasing significantly. Market participants believed that although February was affected by the relatively long Chinese New Year holiday, exports still continued to rise, so there was a strong likelihood that China’s bismuth trioxide exports would continue to increase in March.

Data released by the online customs statistics query platform showed that China’s refined tin imports were 1,101.12 mt in January 2026, down 28.86% MoM and down 52.82% YoY. Indonesia was the largest origin, with refined tin imports from Indonesia at 613.8 mt that month, down 3.53% MoM and down 66.36% YoY. Russia was the second-largest origin, with refined tin imports from Russia at 158.06 mt that month, up 691.52% MoM. Below is a breakdown of China’s refined tin imports in January 2026 compiled based on data from the official website of the General Administration of Customs: Source: General Administration of Customs Note: 1. Refined tin includes unwrought non-alloy tin (refined tin). 2. The total imports (total) also include data for certain origins not listed in the table above. (Wenhua Composite)

Based on China’s 2025 aluminum wire and cable export data to the Middle East, Saudi Arabia was the largest export destination in the region, with annual exports of 9,426.752 mt, accounting for 31.88 of the Middle East total