According to customs data, unwrought aluminium alloy imports in January 2025 were 99,700 tonnes, down 4.9 per cent Y-o-Y and down 5.6 per cent M-o-M. In February, unwrought aluminium alloy imports were 91,900 tonnes, up 3.6 per cent Y-o-Y and down 7.8 per cent M-o-M. Cumulative imports from January to February 2025 were 191,500 tonnes, down 1.0 per cent Y-o-Y.
Unwrought aluminium alloy exports in January 2025 were 18,100 tonnes, down 12.9 per cent Y-o-Y and down 14.6 per cent M-o-M. In February, unwrought aluminium alloy exports were 17,500 tonnes, down 13.1 per cent Y-o-Y and down 3.5 per cent M-o-M. Cumulative exports from January to February 2025 were 35,600 tonnes, down 13 per cent Y-o-Y.
From the perspective of import sources, the top five countries for China's unwrought aluminium alloy imports from January to February 2025 were Malaysia (84,800 tonnes), Russia (35,300 tonnes), Thailand (24,900 tonnes), South Korea (7,300 tonnes), and Indonesia (5,000 tonnes), accounting for 44 per cent, 18 per cent, 13 per cent, 4 per cent, and 3 per cent, respectively, with the remaining countries accounting for less than 20 per cent of the total imports.
Export side, Japan remained the largest export destination for domestic aluminium alloy ingots in the first two months of 2025, accounting for nearly 50 per cent, followed by Mexico and South Korea. The trade mode was mainly processing trade, accounting for 72 per cent.
Overall, imports of unwrought aluminium alloy ingots in January and February 2025 both pulled back to below 100,000 tonnes, with the total volume for the two months showing a slight decline Y-o-Y. After mid-November last year, domestic aluminium prices entered a continuous downward trend, and ADC12 prices followed suit. Meanwhile, overseas prices experienced relatively small fluctuations, and the RMB exchange rate continued to weaken. This series of factors continuously compressed the profit margin for importing ADC12, quickly turning the previously profitable situation into a loss, which persisted until mid-January. Additionally, during the Chinese New Year holiday, market activity decreased, leading to reduced demand. The combination of these unfavourable factors resulted in monthly imports dropping below 100,000 tonnes in January and February. Imports in March are expected to rebound slightly to above 100,000 tonnes, with a potential pullback after April.
This article has been issued by SMM 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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