China’s aluminium imports hit 6-years high after growing more than triple in March; Bauxite shipments fall

According to China customs data on Thursday, April 23, aluminium imports to China grew more than triple in March 2020 from a year ago and stood the highest in the past six years or more. But bauxite imports in the same month fell due to disruptions of the incoming shipments of raw materials.

China’s unwrought aluminium imports in March came in at 121,025 tonnes, up 242 per cent from 35,420 tonnes in the same period last year, showed the General Administration of Customs. This marked the highest since China imported 125,180 tonnes in December 2013.

China’s exports of aluminium, on the other hand, dipped by 5 per cent in March from the year-earlier at 520,000 tonnes, according to data released at mid-month.

In regards to the jump in China’s March aluminium imports, one trader reasoned out that since the overseas demand has been weak caused by the COVID19 pandemic, holders of the metal found China an ideal destination to dump, where demand is starting to recover.

Also, the shift in demand from secondary aluminium to primary aluminium on the tight supply of scrap since the Lunar New Year holiday in late January buoyed the imports of unwrought aluminium to China. The Lunar New Year holiday, followed by movement restrictions imposed by the government due to the outbreak of Coronavirus, delayed the resumption of scrap production and also disrupted supplies, resulting in tight availability.

The total aluminium imports to China in the first quarter of the year stood at 302,580 tonnes.

China’s imports of bauxite totalled at 90,000 tonnes in March, down 10.1 per cent from the year earlier. Exports of alumina amounted to 10,000 tonnes in March, up 88.2 per cent year-on-year.