Singapore 21/09/2016 - China’s export of aluminium fabricated products rose 25.1 percent year-on-year and 5.7 percent month-on-month to 370,000 tonnes in August, according to final trade data published by the country’s General Administration of Customs on Wednesday.
The latest figure took year-to-August exports to 2.74 million tonnes, down 3.5 percent from the same period last year.
The country’s export of unwrought aluminium and aluminium alloy was flat, increasing just 0.1 percent year-on-year to 44,341 tonnes in August. This took year-to-date exports to 343,041 tonnes. This is down 7.1 percent from January-August last year.
Meanwhile, China’s imports of unwrought aluminium and aluminium alloy fell 56.2 percent year-on-year and 46 percent month-on-month to 13,745 tonnes in August. This took year-to-date imports to 101,242 tonnes, down 23.6 percent from the same period last year.
China had saw spike in aluminium metal imports during June and July where over 45,000 tonnes were imported in in total. This 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 opportunities since.
Meanwhile, China’s alumina imports slid 68.3 percent year-on-year to 130,000 tonnes in August. Imports decreased 26.7 percent year-on-year to 2.03 million tonnes in January-August this year.
Chinese aluminium scrap imports were flat, rising just 0.7 percent year-on-year to 190,000 tonnes in August. This took January-August imports to 1.22 million tonnes, which was down 14.2 percent year-on-year.