China November aluminium imports fall amid rising domestic supply

Beijing, Dec. 18 (BNA): China’s aluminum imports in November fell 35.7% from a year earlier as domestic supply increased, and the coronavirus-hit economy continued to reduce demand for the light metal.

According to data from the General Administration of Customs, the country brought in 255,744 tons, including primary metals and alloyed aluminum, last month.

As power restrictions eased for industrial users this year, smelters in China have increased their output. The latest production figure for November showed a ninth consecutive increase to 3.41 million tons.

During the first eleven months of the year, the world’s largest aluminum producer produced 36.77 million tons, up 3.9% from the corresponding period in 2021.

The appetite for import was also affected by the weak demand for the metal used in the transportation, construction and packaging sectors.

China’s economy lost more momentum in November as factory production slowed and retail sales extended lower, both of which missed expectations.

However, signs of easing coronavirus restrictions, and Beijing’s efforts to revive the ailing real estate sector, have brightened the demand outlook for industrial minerals, as reflected in higher prices last month.

The most traded aluminum on the Shanghai Futures Exchange averaged 18,845 yuan ($2,703.42) a ton in November, up from 17,755 yuan a ton in Okotober when it hit a 19-month low.

Import volume in November recorded an increase of 30.2% from 196,460 tons in the previous month.

Total imports in the first 11 months amounted to 2.13 million tons, down 28.2% from the same period last year.

Bauxite imports, the main source of aluminum ore, amounted to 11.79 million tons last month. That increased 31.3 percent from 8.98 million tons in October and up 53.6 percent from 7.7 million tons in November last year.

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