In May 2023, China’s unwrought aluminium alloy imports stood at 82,800 tonnes, indicating a downfall of 27.7 per cent year-on-year and 11.6 per cent month-on-month, found China customs data. From January to May 2023, China’s imports totalled 443,500 tonnes, up by 19.3 per cent from the same period last year.
Malaysia, Vietnam, South Korea, Thailand, and Russia were the top five suppliers of unwrought aluminium alloy to China during January-May 2023. China imported 32,500 tonnes of aluminium alloy from Malaysia, 9,900 tonnes from Vietnam, and 7,700 tonnes from South Korea. China customs data also showed that Thailand and Russia exported 6,800 tonnes and 5,100 tonnes of unwrought aluminium alloy to China in the first five months of the year.
Customs data further calculated that Malaysia accounted for 39.9 per cent of China's imports of unwrought aluminium alloy, followed by Vietnam for 11.9 per cent, South Korea for 9.3 per cent, Vietnam for 8.2 per cent, and South Korea for 6.2 per cent. The imports from other countries accounted for a combined 25 per cent.
China’s unwrought aluminium alloy imports in May 2023 marked the third consecutive fall month-on-month and the ninth decline in a row year-on-year. That could be attributed to higher raw materials costs in Malaysia and South Korea and weak domestic demand in China. Due to fierce price competition and diminished enthusiasm of traders for importing, arriving of aluminium alloy ingots into China has been falling since March 2023.
China’s unwrought aluminium alloy exports in May’23 were 19,900 tonnes – 2.6 per cent less year-on-year but 20.8 per cent more than in April. Total exports during January-May amounted to 93,300 tonnes, up 11.5 per cent from a year ago.
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