China Primary Aluminum Imports Drop to 1,857 mt in December 2014

SHANGHAI, Feb. 3 (SMM) – China imported 1,857 mt of primary aluminum in December, plummeting 97.56% YoY, and 267,645 mt in 2014, down 27.94% YoY, customs data showed. 

 

The country exported 924 of primary aluminum in December, tumbling 96.11% YoY, and 96,462 mt in 2014, down 16.88% YoY. The SHFE/LME aluminum price ratio hovered around 6.7-6.8 in November, unfavorable for imports.

 

China’s primary aluminum imports kept falling last year, down from 55,000 mt in early 2014 to 1,857 mt in December, due to two unfavorable factors. The SHFE/LME aluminum price ratio fell from 8.0 at the end of 2013 to around 6.7 in late 2014. Moreover, global aluminum premiums rose from USD 250/mt in early 2014 to USD 420/mt in late 2014, pushing up import costs.