China's imports of aluminium scrap during January-February this year totalled 320,049 tonnes, higher by 1.8 per cent compared with the same period last year, according to the latest data released by the country's General Administration of Customs.

Specifically, the import volume in January jumped 21.5 per cent on year to reach 192,725 tonnes, while in February the volume slumped by 17.1 per cent on year to 136,323 tonnes, the GACC data showed. 

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The increase in total imports was mainly attributed to healthy shipments from the European Union (EU) which exported a total of 68,843 tonnes of aluminium scrap to China during the first two months, higher by a significant 34 per cent on year.

With abundant aluminium scrap supply outstripping demand among European secondary smelters and other users. EU traders were keen to export scrap materials to Asian markets, market sources observed.

Moreover, the EU had announced plans last November to introduce measures restricting aluminium scrap exports and had indicated that the measures would potentially take effect in spring this year. This had prompted some EU traders to ramp up exports in January-February, Mysteel Global learned.

Meanwhile, China's aluminium scrap imports from the UK, the second-largest source of the material for Chinese importers - totalled 42,175 tonnes in the first two months, increasing by 3 per cent from the same period last year, according to GACC data. 

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In contrast, the country's import volume from the top supplier Thailand dropped by a significant 16.5 per cent on year to 66,662 tonnes in the first two months, accounting for 23.8 per cent in China's total imports, the data showed.

The strong performance of aluminium scrap prices in China had also encouraged shippers eyeing the Chinese market over the past few months. Mysteel Global noted.

During January-February, the average price for imported 6063 high-grade aluminium scrap in South China's Guangdong province had been assessed by Mysteel at RMB 18,939 per tonne (USD 2,744 per tonne), higher by 7.7 per cent compared with the average price last December. 

Note: This article has been issued by Mysteel and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.

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