SHANGHAI, Mar. 10 (SMM) – China imported 5,216 mt of primary aluminum in January, plummeting 90.5% YoY, but soaring 3,359 mt or 180.89% MoM, customs data showed. 

 

The SHFE/LME aluminum price ratio rose above 7.0 in December from 6.7 in November, favoring imports. 

 

Moreover, falling aluminum premiums in overseas markets helped cut imports costs for Chinese buyers, another incentive for imports. Aluminum capacity expansions in India and growing exports of aluminum semis by China have sent spot premiums in Europe down to USD 300/mt from USD 500/mt. Premiums in North America and Asia are also falling.