China’s domestic manufacturing sector recovery drive up March’24 aluminium imports by 89.9% Y-o-Y

AL Circle

According to China customs data, the country's aluminium imports, including primary metal and unwrought, and alloyed aluminium, surged by 89.8 per cent year-on-year in March 2024, buoyed by demand growth. 

China’s domestic manufacturing sector recovery drive up March’24 aluminium imports by 89.9% Y-o-Y

{alcircleadd}

China's increasing demand for aluminium is being fuelled by the growth of solar, electric vehicle (EV), and energy storage sectors. The remarkable 63 per cent growth in China's solar sector in 2023, reaching RMB 2.5 trillion, indicates the rapid expansion of the renewable energy industry. This growth trajectory persists into 2024, suggesting a sustained demand for aluminium, a crucial material in these sectors.

As per the data revealed by China customs, the country imported 380,000 tonnes of unwrought aluminium products, bringing the total imports in the first quarter of 2024 to 1.1 million tonnes, up 92.3 per cent from the same period of the previous year.

The manufacturing sectors’ expectations for higher demand for aluminium in line with revived industrial activity pushed China’s imports in recent times. The country’s manufacturing activity expanded for the first time in six months in March.

Meanwhile, China’s domestic aluminium production has been low in some regions like Yunnan due to the dry season, which made the manufacturing sector rely on imported metals.

In March, China’s cargoes shipped from Russia increased, accounting for over half of China’s total imports of primary aluminium. In the first two months of 2024, China’s aluminium imports from Russia totalled 277,120 tonnes, more than double the 105,300 tonnes during the same period of the last year.

The rising aluminium imports have also contributed to higher stocks in China. On Friday, April 19, China’s aluminium stocks jumped 139.8 per cent from the beginning of the year and near a one-year peak, reaching 231,765 tonnes.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS​-IIM 2024

September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA

Related
Business Leads
We have urgent monthly requirement of aluminium ingot A7 fro...
23-May-2024 Buying request

Interested to buy alumium ingot A7. Purity Al99...
23-May-2024 Buying request

Urgent requirement of aluminium ingot A7 for 12 months. Des...
21-May-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads