China’s aluminium market gained fresh momentum in October, with imports of unwrought aluminium and aluminium products rising 10.4 per cent year-on-year. China brought in 350,000 tonnes in the month, a figure signalling persistent appetite from sectors such as transport, construction, and packaging. Traders noted that demand “remained healthy in October”, supported by steady downstream activity.
The October increase followed a 35.4 per cent surge in September, extending China’s cumulative imports to 3.36 million tonnes in the first ten months, up 6.1 per cent year-on-year. Prices, however, softened. According to the Shanghai Metals Market data, the metal was traded at USD 2,665.91 per tonne on November 18, recording a decline of 22.93 per cent from the previous day.
_0_0.jpg)
Explore- Most accurate data to drive business decisions with 50+ reports across the value chain
Alumina imports rise as price advantage flares
China’s alumina imports also climbed, driven by a clear cost incentive. Australian alumina fell 4.5 per cent in a month to USD 344.4 per tonne CIF Lianyungang, Mysteel reported. Domestic material, though softer, remained USD 65.8 per tonne higher, with weighted national average price at USD 410.2 per tonne.
This price spread made imported alumina more attractive, helping lift October alumina imports by 12.5 per cent. In October, the import volume stood at 13.77 million tonnes, and that brought the year-to-date inflows to 170.96 million tonnes, up 30.1 per cent increase.
Read More: Aluminium fell as China’s primary output rose 0.4% in October
Supply cuts fail to absorb oversupply
Late-October production curbs in North China, triggered by heavy pollution,reduced refinery runs briefly. Mysteel noted that the cuts caused a slight decline in national output in early November. Yet the impact was minimal, as supply already outstripped demand.
Inventories kept growing. China’s tracked alumina stocks hit 4.8 million tonnes, the highest in over three years. This build-up indicates a structural surplus, not a temporary fluctuation.
Demand flat despite ample supply
Downstream conditions remained steady but unremarkable. Consumption showed little improvement, and rising supply pushed national alumina prices lower. Mysteel said that although smelter utilisation remained high at 97.5 per cent, this did not translate into significantly higher alumina consumption. Supply kept increasing. As a result, national alumina prices fell. They dropped to USD 404 per tonne by November 10. This was a 4 per cent decline for the month.
Don't miss out- Buyers are looking for your products on our B2B platform
Responses
