The Magazine for Asian Investors
China’s aluminum imports decreased by 36.3% year-on-year in June. Higher domestic production and weak demand continue to impact import demand.
According to the Main Customs Office, China imported 187,362 tons of aluminum and unformed products, including primary metals and unformed aluminum alloys, last month.
Aluminum imports to China, the world’s largest producer and consumer of the metal, totaled 1.08 million tons in the first six months of this year, down 25.9% from the same period last year.
Eased energy restrictions this year have eased aluminum supply tensions, which were the main cause of last year’s price spike and inflows.
China produced 3.39 million tons of aluminum in June. This was down from the record 3.42 million tons in May and up 3.2% from the same period last year.
Rising supply is accompanied by weak demand for light metals among key end-user groups. The real estate and automotive industries are struggling with a decline in consumption in an economy affected by the pandemic.
Outside China, aluminum production is being curtailed by the ongoing energy crisis.