03 JULY 2014Shanghai Metal Market
China’s primary aluminum imports and exports both grow in May
Edited by : AL CIRCLE
1 min read
Inbound and outbound shipments of China’s primary aluminum both grew in May from a year ago, Shanghai Metals Market understood.
Inbound shipments of the material jumped 10.24% year-on-year to 24,000 tonnes in May, China Customs showed. SMM believed these imported goods were probably used for tolling trade, considering the average CIF price at $ 2,026.78 per tonne, which was well above spot aluminum prices in China’s domestic markets.
China Customs also showed outbound shipments of primary aluminum were 20,200 tonnes in May, up114.31% from a year ago. The surge in exports was due largely to high premiums in Japan and South Korea, SMM understood.
Besides, SMM believed that these aluminum ingots were probably exported from bonded zones instead of from China’s domestic markets. This was because the FOB price for Chinese aluminum ingot would be $ 2,480 per tonne after adding the 15% export tariff, higher than international aluminum prices.
Inbound shipments of the material jumped 10.24% year-on-year to 24,000 tonnes in May, China Customs showed. SMM believed these imported goods were probably used for tolling trade, considering the average CIF price at $ 2,026.78 per tonne, which was well above spot aluminum prices in China’s domestic markets.
China Customs also showed outbound shipments of primary aluminum were 20,200 tonnes in May, up114.31% from a year ago. The surge in exports was due largely to high premiums in Japan and South Korea, SMM understood.
Besides, SMM believed that these aluminum ingots were probably exported from bonded zones instead of from China’s domestic markets. This was because the FOB price for Chinese aluminum ingot would be $ 2,480 per tonne after adding the 15% export tariff, higher than international aluminum prices.
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