05 NOVEMBER 2014Shanghai Metal Market
China aluminum imports plunge 90.04% YoY in Sept. 2014
Edited by : AL CIRCLE
1 min read
China’s primary aluminum imports slumped 90.04% YoY and 36.47% MoM to 5,400 mt in September, according to China Customs. YTD imports through September grew 23.05% YoY to 255,100 mt, though.
The SHFE/LME aluminum price ratio was low at 6.9 for most of August, unfavorable for imports. Besides, rising aluminum premiums in overseas market added to import costs. Both factors resulted in such dramatic decline in import volumes.
The SHFE/LME aluminum price ratio rose to near 7.1 in September, favoring imports. But high global aluminum premiums should prevent imports from increasing. Hence, China’s primary aluminum imports are expected to remain low in October.
The SHFE/LME aluminum price ratio was low at 6.9 for most of August, unfavorable for imports. Besides, rising aluminum premiums in overseas market added to import costs. Both factors resulted in such dramatic decline in import volumes.
The SHFE/LME aluminum price ratio rose to near 7.1 in September, favoring imports. But high global aluminum premiums should prevent imports from increasing. Hence, China’s primary aluminum imports are expected to remain low in October.
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