China exported aluminum ingots mainly from bonded warehouses in the first two months of this year.

Published: Mar 28, 2022 13:24

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[China's exports of aluminum ingots in the first two months of this year mainly come from bonded warehouses] according to the latest data released by China's customs, in the first two months of this year, China exported a total of 30700 tons of unwrought non-alloy aluminum, an increase of 1833 percent over the same period last year; exports were mainly concentrated in February, with monthly exports of 26400 tons, an increase of 2361 percent over the same period last year. Judging from the mode of trade, the ordinary aluminum ingots exported in the first two months are not domestic aluminum ingots, but overseas aluminum ingots previously imported from abroad and retained in bonded warehouses. Since the beginning of this year, although the price of aluminum abroad has increased more than that at home, the relationship between domestic and foreign prices and the level of exchange rate have been judged in the past two months.

According to the latest data released by China's customs, in the first two months of this year, China exported a total of 30700 tons of unwrought non-alloy aluminum, an increase of 1833 percent over the same period last year. Exports were mainly concentrated in February, with monthly exports of 26400 tons, an increase of 2361 percent over the same period last year.

The unwrought non-alloy aluminum exported in the previous two months includes:

1. Refined aluminum and high purity aluminum (unwrought non-alloy aluminum with aluminum content ≥ 99.95%, tax number 76011010) 1700 tons, all for general trade exports;

two。 29000 tons of ordinary aluminum ingots (unwrought non-alloy aluminum with aluminum content < 99.95%, tax code 76011090), of which 28900 tons are exported from "special customs supervised area logistics goods", that is, self-bonded warehouses. exported to Montenegro, Italy, South Korea, Nigeria, Tanzania and other five countries; in addition, a small amount of general trade exports, only 22 tons, exported to Vietnam and Taiwan of China.

China restricts the export of ordinary aluminum ingots, and the provisional export tax rate is 15%. The export of refined aluminum and high-purity aluminum is not restricted, and the provisional export tax rate is 0%.

Judging from the mode of trade, the ordinary aluminum ingots exported in the first two months are not domestic aluminum ingots, but overseas aluminum ingots previously imported from abroad and retained in bonded warehouses. Since the beginning of this year, although the price of aluminum abroad has increased more than that at home, the export window of electrolytic aluminum in China has not been opened under the restriction of 15% export tariff in the past two months.

According to the current inventory of the bonded warehouse, the export volume of unwrought non-alloy aluminum is likely to increase significantly in March.

Aluminum ingots imports and exports sources data analysis

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