According to China customs data, the country imported 105,900 tonnes of unwrought aluminium alloy in November 2022, which was 11.4 per cent less year-on-year but 6.1 per cent more month-on-month. Imports in the first 11 months of 2022 totalled 1.19 million tonnes, up by 15.6 per cent on a yearly basis.
Coming to exports, China’s unwrought aluminium alloy export volume in November stood at 18,900 tonnes, recording a hike of 57.5 per cent from the previous year and 3.5 per cent a month ago. The total exports from January to November amounted to 204,700 tonnes, a year-on-year rise of 44.3 per cent.
In November, Pakistan emerged as the fifth largest supplier of unwrought aluminium alloy to China, replacing the Russian Federation. The top four suppliers were Malaysia, Thailand, South Korea, and Vietnam, importing 40,200 tonnes, 10,900 tonnes, 10,700 tonnes, and 8,900 tonnes, respectively. The imports from these four countries accounted for 38 per cent, 10.3 per cent, 10.1 per cent, and 8.4 per cent of China’s total unwrought aluminium alloy imports.
Imports from Malaysia and South Korea were found stable, while that from Thailand, Vietnam, Pakistan, and India grown by 1,000-4,000 tonnes. Imports from the Russian Federation decreased by 1,000 tonnes, showed Customs data.
Zhejiang, Guangdong, and Jiangsu were China’s provinces that imported the most unwrought aluminium alloy in November, with volumes recorded at 44,000 tonnes, 21,900 tonnes, and 9,200 tonnes, respectively.
Most of the unwrought aluminium alloy arriving at Chinese ports in November were under orders placed in September and October when domestic aluminium alloy prices had edged down. Also, the exchange rate of RMB against the US dollar fell below seven again, which triggered the monthly import volume. In addition, weaker domestic production caused higher imports.
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