During January-May 2024, China witnessed a positive trend of aluminium raw material and aluminium product imports, as demonstrated by the Shanghai Metals Market’s latest survey. Considering raw materials, China’s bauxite and alumina imports grew in May due to the growing demand for primary metal production, as many smelters, especially in Yunnan, resumed operations because of the increased generation of hydropower backed by sufficient rainfall. According to the National Bureau of Statistics, China’s primary aluminium production in May reached 3.65 million tonnes, marking a 2-year high.
China is increasingly depending on imported ore as domestic supply lines are struggling. At the end of May, out of 100 million tonnes, China’s operating capacity stood at 82.29 million tonnes, with an operating rate of 82.3 per cent.
Delving into alumina & bauxite imports
According to China customs data, the country’s cumulative imports of alumina from January to May 2024 amounted to 1.1472 million tonnes, reflecting a surge of 60.33 per cent year-on-year, despite a drop in the month of May. In May 2024, China imported 91,500 tonnes of alumina, which was down M-o-M as well as Y-o-Y by 15.59 per cent and 19.6 per cent, respectively.
China’s net imports of alumina in May were 10,000 tonnes, bringing cumulative net imports from January to May 2024 at 493,000 tonnes.
China’s alumina exports in the said month were 101,500 tonnes, leading to total exports of 653,000 tonnes in the first five months.
China’s bauxite imports in May reached 13.549 million tonnes, down by 4.84 per cent M-o-M from 14.2376 million tonnes but up by about 5 per cent Y-o-Y from 12.9 million tonnes. From January to May, China’s total bauxite imports amounted to 64.1288 million tonnes, an increase of nearly 6 per cent from 60.59 million tonnes during the corresponding period of the previous year.
From the key sources like Guinea, Australia, Brazil, Ghana, Laos, Turkey, Sierra Leone, and Malaysia, China imported 9.4174 million tonnes, 3.5755 million tonnes, 195,900 million tonnes, 126,700 million tonnes, 89,100 million tonnes, 56,200 million tonnes, 47,700 million tonnes, and 40,500 million tonnes of bauxite, respectively.
Unwrought aluminium and semis imports
As far as unwrought aluminium and aluminium semis are concerned, China’s imports saw a year-on-year increase of 61.1 per cent to 310,000 tonnes in May 2024. From January to May, the cumulative imports reached 1.8 million tonnes, up 81.7 per cent on an annual basis.
