SHANGHAI, Sept. 1 (SMM) –China imported 15,538 mt of primary aluminum in July, up 118.72% MoM and 10.24% YoY, customs data showed.
YTD imports through July totaled 69,365 mt, down 71.25% YoY.
Aluminum premiums in Asia held between USD 100-120/mt. The SHFE/LME aluminum price ratio climbed from 7.0 in May to 7.4-7.5 in June, favorable for imports. The price ratio continued rising in July and August, hitting 7.8 at one point. This will further boost primary aluminum imports.