Singapore 22/08/2016 - China’s exports of aluminium fabricated products rose 9.9 percent year-on-year to 350,000 tonnes in July, according to final trade data published by the country’s General Administration of Customs on Sunday.
The latest figure took year-to-July exports to 2.37 million tonnes, down 6.8 percent from the same period last year.
The country’s exports of unwrought aluminium and aluminium alloy increased 12.8 percent year-on-year to 41,877 tonnes in July, taking year-to-date exports to 298,700 tonnes. This is down 8.1 percent from January-July last year.
China’s imports of unwrought aluminium and aluminium alloy rose 22.2 percent year-on-year and 25.2 percent month-on-month to 25,444 tonnes in July. This took year-to-date imports to 87,496 tonnes, down 13.4 percent from the same period last year.
The spike in imports during June and July – 20,320 tonnes were imported in June – was abnormal and likely due to a brief import arbitrage opportunity in late-May as higher Chinese aluminium prices coupled with attractive premiums in southern China sparked temporary import interest in China, said sources.
But market participants do not expect the high imports to continue for long as there has been a lack of import arb opportunity since.
Meanwhile, China’s alumina imports slid 59.7 percent year-on-year to 220,000 tonnes in July. Imports decreased 19.5 percent year-on-year to 1.9 million tonnes in January-July this year.
Chinese aluminium scrap imports dipped 18.3 percent year-on-year to 170,000 tonnes in July, taking January-July imports to 1.03 million tonnes. This was down 16.6 percent year-on-year.