An aluminum alloy composition includes, in weight percent: 0.5-0.7 manganese; 0.05-0.15 iron; 0.3-0.5 silicon; 0.020 max nickel; 0.05-0.15 titanium; 0.01 max copper; and 0.10 max zinc, with the balance being aluminum and unavoidable impurities. The alloy may also have a combined amount of manganese and silicon of at least 0.8 wt. % and/or a Mn/Si ratio of 2.25 or less. The alloy may tolerate higher nickel contents than existing alloys, while providing increased corrosion resistance, as well as similar extrudability, strength, and performance. Billets or other intermediate products formed of the alloy may be homogenized at 500-595° C. and controlled cooled at 400° C. per hour or less. The homogenized billet may be extruded into an extruded product, such as an aluminum alloy heat exchanger tube.