China’s unwrought aluminium and aluminium products imports grow record high at 281,139 tonnes in April 2021
In April 2021, China’s unwrought aluminium and aluminium products imports rose 36.1 per cent month-on-month and 165.2 per cent on-year to come in at 281,139 tonnes. In March, the imports stood at 206,556 tonnes.
China, the world’s leading aluminium producer, brought in a record amount of aluminium in April 2021 as strong demand lifted Shanghai prices above London metal prices, resulting in opening an arbitrage window for cheaper overseas metal.
The arbitrage was mostly closed in April but opened briefly in mid-March, paving the way for more imports, while the difference between Shanghai and London prices hit widest on May 13 since July last year.
Meanwhile, China’s bauxite imports stood 12.3 per cent down year-on-year to 8.74 million tonnes in April 2021, showed customs data. On a month-on-month basis, it was down by 13.6 per cent from 10.11 million tonnes.
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