04 NOVEMBER 2015Shanghai Metals Market
China primary aluminum imports up 97.93% YoY in September
Edited by : AL CIRCLE
1 min read
China imported 10,600 mt of primary aluminum in September, down 11,200 million tonnes (mt) MoM, but up 97.93% YoY, customs data showed.
The MoM decline is due to lower SHFE/LME aluminum price ratio. In September, tolling trade remained the major trade mode, and aluminum ingot imported not via tolling trade was rarely sold in China’s domestic market. Aluminum premiums in Japan fell to USD 90/mt in late October, down USD 10/mt from August. Despite falling aluminum premiums overseas, supply glut in domestic market and a 17% VAT will offer little incentive to import. This, combined with further decline in the SHFE/LME aluminum price ratio, means that imports will continue falling in October.
The MoM decline is due to lower SHFE/LME aluminum price ratio. In September, tolling trade remained the major trade mode, and aluminum ingot imported not via tolling trade was rarely sold in China’s domestic market. Aluminum premiums in Japan fell to USD 90/mt in late October, down USD 10/mt from August. Despite falling aluminum premiums overseas, supply glut in domestic market and a 17% VAT will offer little incentive to import. This, combined with further decline in the SHFE/LME aluminum price ratio, means that imports will continue falling in October.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Aluminum withdrawal orders on LME surge in longest run in a year
Next articleLME aluminium may rise into $1,532-$1,548 range
Grow with
AL Circle
