The aluminum processing PMI in April dropped to 53.9%. The industry has shifted from a comprehensive recovery to a structural differentiation. The overall PMI for the domestic aluminum processing industry stood at 53.9% in April, still above the boom-bust line but significantly lower than the peak in March. The overall industry sentiment has weakened marginally, transitioning from a comprehensive recovery to a structural differentiation. Demand from the new energy and packaging sectors remains supportive, while the recovery in the real estate, automotive, and some export chains has fallen short of expectations. High aluminum prices have also suppressed procurement and order releases. Overall, the "Silver April" effect persists but with weakened momentum, and the industry's operation is tending towards a rational return.
