China's unwrought aluminium alloy imports in June 2020 increased by 88.3 per cent month-on-month and 754.5 per cent year-on-year to stand at 131,000 tonnes, in contrast to the downfall in exports, according to the latest China customs data. With this hike in imports, China secured total 466,500 tonnes of unwrought aluminium alloy in the first half of 2020.
On a year-on-year calculation, China’s total unwrought aluminium alloy imports in H1 2020 surged by 706.1 per cent.
This stupendous hike in China’s unwrought aluminium alloy imports in June 2020 could be attributed to the sharp rise in orders for imported aluminium alloy from late April in tandem with the growth in demand. Almost all the cargoes arrived in June. However, in July, the imports are likely to reduce below 100,000 tonnes with the decrease in orders amid concerns about the impact of the Secondary Cast Aluminium Alloy Raw Materials.
China’s exports of unwrought aluminium alloy in June stood at 11,100 tonnes, down by 31.9 per cent month-on-month and 78.1 per cent year-on-year amid the COVID-19 pandemic. In the entire first half of the year, the exports amounted to 103,700 tonnes, shrinking by 63 per cent from the same period last year.
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