China’s aluminium imports record 26% slump in 2022 on sluggish consumption amid COVID-19

According to the recent data published by the General Administration of Customs released on Wednesday, January 18, China imported 2.39 million tonnes of unwrought aluminium and products, including primary metal and unwrought and alloyed aluminium. That reflected a year-on-year downfall of 25.6 per cent as domestic aluminium production increased to a record high and COVID-19 restrictions weighed on consumption.

In 2021, China’s aluminium imports stood at 3.2 million tonnes, a record volume amid domestic supply disruptions due to transportation hazards for COVID restrictions.

The downfall in 2022 was contributed by weaker demands, particularly from the construction, transportation and packaging sectors. Increased primary aluminium output to a record at 40.21 million tonnes due to relaxed power curbs in 2022 also led to a lesser import volume.

As domestic production grew and COVID-19 restrictions eased at the end of the year, supply recovered, resulting in lower imports. At the same time, strong metal supply amid sluggish demand weighed on domestic prices.

In December 2022, China’s aluminium imports climbed 6.3 per cent year-on-year to 258,678 tonnes. That came after China abandoned zero-COVID policy and sparked hopes of rising demand for aluminium.

Bauxite imports in December were 17 per cent higher than a year ago totalling 10.15 million tonnes. Aggregate imports through 2022 amounted to 125.47 million tonnes, an increase of 17 per cent from 107.37 million tonnes in 2021.