China's aluminium imports up, prices may gain
Friday, 12 November 2010
LONDON, Nov 11 (Commodity Online): Aluminium prices may soon witness yet another surge following a rise in China's imports in October.
According to reports, China's October imports of aluminium were70729 tonnes as against 65772 tonnes in September. On a yearly basis, imports were down by 18.3 per cent, from 86611 tonnes.
The rise in aluminium imports inOctober is majorly due to the fact that the demand for vehicles in the country remained robust, in which aluminium is a major contributor.
In 2009, China curbed exports of aluminium by imposing duties on the product. However in 2010 when self sufficiency was achieved China exports showed an increase. This also led to decline in yearly imports figure of China.
Total exports of unwrought aluminium and its products stood at 69005 tonnes in October, up 25 per cent from 55117 tonnes. In2009, the exports of unwrought aluminium stood at 39571 tonnes.
According to reports, China's October imports of aluminium were70729 tonnes as against 65772 tonnes in September. On a yearly basis, imports were down by 18.3 per cent, from 86611 tonnes.
The rise in aluminium imports inOctober is majorly due to the fact that the demand for vehicles in the country remained robust, in which aluminium is a major contributor.
In 2009, China curbed exports of aluminium by imposing duties on the product. However in 2010 when self sufficiency was achieved China exports showed an increase. This also led to decline in yearly imports figure of China.
Total exports of unwrought aluminium and its products stood at 69005 tonnes in October, up 25 per cent from 55117 tonnes. In2009, the exports of unwrought aluminium stood at 39571 tonnes.