China’s aluminium imports have already recorded a year high within 11 months (January-November) of 2021 as limited domestic aluminium production due to power usage restrictions underpin demand for overseas metal.
According to China customs data, arrivals of unwrought aluminium and products, including primary metals and unwrought, alloyed aluminium, recorded a 15-month peak at 397,915 tonnes in November. That was 34 per cent up month-on-month from 297,043 tonnes and 109.3 per cent higher on the year.
Total imports in 11 months amounted to 2.97 million tonnes, beating the previous annual record of 2.7 million tonnes in 2020.
China, the world’s top aluminium producer of aluminium and a net exporter of the metal, has been importing unprecedented volume of the metal since market recovery from coronavirus outbreaks last year saw Chinese aluminium prices much higher than international prices, opening up a so-called arbitrage for cheaper overseas metal to be imported.
On the other hand, China’s bauxite imports, the main aluminium ore, stood 19 per cent down month-on-month from 9.54 million tonnes to 7.7 million tonnes in November. On a year-on-year calculation, the imports were 6.6 per cent less.
From January to November, China’s bauxite imports totalled 98.69 million tonnes, down by 5.2 per cent on the year.
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