China June primary aluminium imports slump 13.2 per cent as Russia share tops 90 per cent; exports surge on South Korea demand

In June 2026, China's primary aluminium trade exhibited a pronounced divergence, marked by contracting imports and surging exports. Imports declined sharply in both volume and value, while their origins remained highly concentrated, with Russia retaining its firm lead as the top supplier.

On the export front, Asian markets asserted clear dominance, with South Korea and India collectively accounting for nearly 80 per cent of total outbound shipments. Export volumes soared across the board, with dispatches to South Korea registering a month-on-month explosion.

Total primary aluminium imports for June reached approximately 167,100 tonnes, reflecting a year-on-year decrease of 13.15 per cent and a month-on-month drop of 19.74 per cent. Cumulatively, imports for the first six months amounted to roughly 1.29 million tonnes, up 2.92 per cent compared to the same period last year.

Exports demonstrated robust growth, hitting 38,400 tonnes in June-a staggering 95.45 per cent increase year-on-year and a 72.97 per cent rise month-on-month. From January to June, cumulative exports totalled about 114,100 tonnes, marking a 31.7 per cent increase over the previous year.

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Consequently, net imports of primary aluminium in June stood at approximately 128,700 tonnes, down 25.5 per cent year-on-year and 30.81 per cent month-on-month. The cumulative net import volume for the first half of the year reached 1.17 million tonnes, representing an 18.35 per cent increase year-on-year.

In terms of import origins, the concentration of import sources persisted, with Russia maintaining absolute dominance. Imports from the Russian Federation totalled 152,600 tonnes, capturing a massive 91.3 per cent market share. However, this figure saw a sequential decline of 19.5 per cent and a year-on-year dip of 6.1 per cent.

Notably, within these Russian imports, the share attributed to the outward processing trade regime surged significantly, accounting for approximately 52.8 per cent. Furthermore, the import arbitrage window has remained persistently shut, continuing to suppress import willingness among domestic buyers.

Exports were primarily directed toward India and South Korea, which together accounted for nearly 80 per cent of the total volume. Shipments to South Korea experienced a meteoric rise, surging by 232 per cent month-on-month and 200 per cent year-on-year. Turkey and the United States also remained key export markets.

Overall, while the export landscape continues to show signs of diversification, Asia remains the unequivocally dominant region in terms of destination.

Note: This news is published under a content and exchange agreement with Mysteel