Jan-May 2024: China’s aluminium raw material imports set a bullish trend, with alumina inflows surging 60% Y-o-Y
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.
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China's domestic alumina market consolidates
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