SHANGHAI, Aug. 29 (SMM) --
According to China Customs, China’s bauxite imports reached 3.74 million mt during July, up 26.12% YoY, and up 7.22% MoM. YTD imports of bauxite through July were 24.47 million mt, up 43.70% YoY. China’s monthly imports of bauxite have remained high since the start of 2011, with monthly imports even hitting a record high 4.5 million mt in May. Indonesia and Australia are the two leading suppliers of bauxite to China, with the proportion of bauxite imports from Indonesia even reaching 84.19% in July. In contrast, bauxite imports from Australia were only 540.1 kt, down 19.58% YoY.
According to China Customs, China imported over 59 kt of alumina in July, down 78.2% YoY, with the largest YoY decline seen in imports from France and Australia.
According to China Customs, China’s primary aluminum exports in July surged, but the SHFE/LME aluminum price ratio was also increasing during this period, a signal of greater losses to come for aluminum exports. Data shows total imports of primary aluminum were 112.5 kt during 1H 2011, with approximately 60% of imports consisting of goods in bond. SMM believes there are large amounts of aluminum ingot duty unpaid in bonded warehouses, so re-exports of aluminum ingot from bonded warehouses contributed to higher volumes of exports of primary aluminum during July.
According to China Customs, China’s exports of aluminum alloy during July were 64,161 mt, up 21.38% YoY, with YTD exports through July of 379,819 mt, also up 28.54% YoY. China’s total exports of aluminum alloy during 2Q fell continuously due to earthquake in Japan in March. Aluminum alloy exports improved in July, especially exports to Japan. Japanese demand has gradually improved and new orders have increased as well. Meanwhile, Japanese enterprises which requested delays in deliveries were fulfilling orders during July, also adding to the increase in aluminum alloy exports from China.