Analysis Of China's Primary Aluminium Imports In August And Forecast For September

SHANGHAI, Sep 25 (SMM) –According to customs data, China's primary aluminium imports stood at 153,000 mt in August, up 31% MoM and 211% YoY. China's primary aluminium exports stood at 25,000 mt in August, up 12% MoM and 319% YoY. This recorded a net import of 128,000 mt, up 36% MoM and 196% YoY. From January to August, the net imports totalled 650,000 mt, up 507% YoY.

In August, the import window opened, and profits of imported aluminum ingots were restored, driving more overseas aluminum ingot to flow into China. In August, aluminum ingot imports were still mainly from Russia. In addition, imports from India and other Southeast Asian countries also showed significant increases. Entering September, SHFE aluminum prices still outperformed LME aluminum. As such, it is expected that primary aluminum imports will maintain a month-on-month growth trend.