China’s primary aluminium imports mount to 430,500 tonnes during January-June 2023

According to the Shanghai Metals Market data, China’s primary aluminium imports reached 89,400 tonnes in June 2023, registering an increase of 20.7 per cent month-on-month and a surge of 213.6 per cent over a year. The primary aluminium exports in June totalled 32,900 tonnes - 187 per cent more than in May 2023 and 400 per cent higher than in June 2022.

From the domestic market, China secured 56,400 tonnes of primary aluminium in June 2023, which reflected a 9.8 per cent decline month-on-month but a sharp rise of 158 per cent year-on-year.

China’s total imports of primary aluminium from January to June amounted to 430,500 tonnes, soaring year-on-year by 1,747.6 per cent. However, there was no upward movement in domestic aluminium ingot imports during June 2023, primarily due to narrow profits compared to overseas imports.

China’s aluminium semis exports saw a month-on-month dip of 1.14 per cent and a year-on-year decline of 24.8 per cent, totalling 439,000 tonnes. Particularly, the export volume of aluminium plates/sheets, strips, and foil manifested a year-on-year downfall due to sluggish demand in the global market. However, the extrusion segment witnessed an uptick on both a monthly and annual basis.

In the first half of 2023, China’s aluminium semis exports reached 2.636 million tonnes, marking an 18 per cent drop from a year ago.

Early July saw a temporary opening of aluminium ingot import window and thus peep a slight expectation for an increase in subsequent imports. But the year-on-year downtrend of aluminium semis exports is likely to persist in July 2023, suggests SMM.

Sourced from Shanghai Metal Market (SMM)