China's aluminium imports for August declined 19% Y-o-Y: Customs data
On 18th September 2022, the Chinese customs data revealed that China's aluminium imports in August 2022 descended 19% from the previous year's same period. The record rise in domestic production and limited export supply is the primary reason for this import dip. China stands as the world’s largest producer and consumer of aluminium.
According to data from the General Administration of Customs, in August 2022, China procured 200,440 tonnes of unwrought aluminium and products, including primary metal and unwrought, alloyed aluminium.
The drop in imports was attributed to this year's production ramp-up, which eased supply tensions at home. Imported materials have also been in high demand due to power restrictions.
In August 2022, China produced a record 3.51 million tonnes of light metal, following a previous record set in July. A growing number of European aluminium producers have also cut production as prices for electricity have risen, making the energy-intensive metal unprofitable.
As a result of the continuing closure of the arbitrage window between Shanghai (SHFE) and London (LME), imports dipped yearly. Over the first eight months, imports totalled 1.48 million tonnes, a decrease of 27% compared to last year.
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