China's aluminium imports rise in October on solid demand


FE Team | Published: November 19, 2023 21:21:18


China's aluminium imports rise in October on solid demand

BEIJING, Nov 19 (Reuters): China's aluminium imports rose for the fifth straight month in October, customs data showed on Saturday, as buying appetite improved amid solid demand and expectations of reduced supply in the domestic market.
The world's biggest consumer and producer of aluminium imported 351,065 tonnes of unwrought aluminium and products including primary metal and unwrought, alloyed aluminium last month, data from the General Administration of Customs showed.
October imports climbed 5.8 per cent from 331,716 tons imported in September and were up 78.7 per cent from a year earlier.
The light metal is widely used in construction, transport and packaging industries.
Demand from the new energy sector has been strong although consumption in the traditional sectors remains constrained by China's flagging economic recovery despite a slew of stimulus. Fears of reduced domestic supply propelled more buying from abroad, however.
Aluminium smelters in southwestern Yunnan province started cutting a total of 1.15 million tonnes of capacity in early November to comply with power curbs expected to last until April.
Yunnan, with around 5.7 million tonnes of capacity, is the fourth-biggest aluminium producing region in China and accounts for around 12 per cent of the country's total capacity.
Imports of the light metal for the first 10 months were at 2.39 million tonnes, up 27.5 per cent from the same period in 2022.
China's imports of primary aluminium from Russia have surged 191 per cent to 806,253 tons in the first nine months this year, according to customs data.
Imports of bauxite, a key raw material for aluminium products, rose 24.7 per cent on-year to 11.1 million tons last month, the data also showed, underpinned by strong demand.

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