The People’s Republic of China imported 4.6 percent less aluminium on the year according to newly released data from the country’s government, with imports dropping below 200 thousand metric tons as prices for the commodity rose.
In March the Middle Kingdom brought in 197,134 metric tons of primary aluminium and unwroght alloyed aluminium last month, dropping below the 206,556 metric tons the country brought in in March of last year. Meanwhile, the value of those imports rose by 16 percent.
Aluminium imports into China fell during the first quarter as well, dropping by 19 percent on the year. This year’s first quarter saw 533,136 metric tons of aluminium arrive at Chinese ports, but during that time the value of those imports rose by 2.4 percent.
Commenting prior to the release of last month’s data, Antaike consultancy’s Shen Lingyan explained why prices were on the rise in recent months.
“Aluminium prices in overseas market are higher than China now, as some foreign producers had been cutting output since late 2021 amid higher energy prices.”
Meanwhile, China’s export of unwrought aluminium and aluminium products spiked by 34 percent on the year in March, peaking at 594,361 thousand metric tons. Imports of bauxite ore rose by 16 percent in March to 11.7 million metric tons. For the quarter, bauxite imports rose by 20 percent on the year to 32.67 thousand metric tons.