SHANGHAI, Sept. 30 (SMM) – China’s primary aluminum imports surged 40.65% MoM to 21,800 mt in August, customs data showed.
The average SHFE/LME aluminum price ratio rose 3.91% MoM to 7.62 in August, favorable for imports. Aluminum premiums in Asia held largely steady around USD 100/mt in August.
In August, primary aluminum imports were largely under two trade modes, namely feeding processing trade and goods in bonded areas (including pilot areas under customs supervision). Primary aluminum imported under these two trade modes is either sold overseas after being processed or stored in bonded zones, rather than being traded in China’s domestic market.
China’s primary aluminum imports will grow slower in September, as the average SHFE/LME aluminum price ratio dipped to 7.38 during the first three weeks of the month.