China's aluminum imports hit annual record high

China's aluminum imports have hit an annual record, surpassing the previous high set in 2009, even with a month to go, according to data released by the General Administration of Customs (GAC) on Wednesday.

China imported 188,973t of unwrought aluminum and aluminum products in November, GAC said.

According to the statistics, China's imports in November declined by 26.4% from October but increased by 158.Asian Metal Copyright Then the arbitrage window closed, but the metal continued to flow in.Asian Metal Copyright6% from the same period last year.Asian Metal Copyright4% from October but increased by 158.Asian Metal Copyright The imports from January to November totaled 2.Asian Metal Copyright According to the statistics, China's imports in November declined by 26.Asian Metal Copyright44 million tons, a fourfold increase over the same period last year, exceeding the total imports of 2.Asian Metal Copyright China rarely brings in big volumes of the metal from overseas but the country's swift rebound from the COVID-19 demand shock took aluminum prices in Shanghai well above London Metal Exchange prices.Asian Metal Copyright32 million tons in 2009.

China rarely brings in big volumes of the metal from overseas but the country's swift rebound from the COVID-19 demand shock took aluminum prices in Shanghai well above London Metal Exchange prices. That opened up a so-called arbitrage window for cheap metal from overseas.Asian Metal Copyright While overall imports are higher than those in 2009, when a similar price gap occurred as Chinese demand recovered from the global financial crisis, the inflow of primary aluminum in 2020 about 877,500t from January to October is still well below the 1.Asian Metal Copyright The aluminum price gap between Shanghai and London peaked in July, when China became a net importer for the first time in more than a decade.Asian Metal Copyright The aluminum price gap between Shanghai and London peaked in July, when China became a net importer for the first time in more than a decade.Asian Metal Copyright Then the arbitrage window closed, but the metal continued to flow in.

While overall imports are higher than those in 2009, when a similar price gap occurred as Chinese demand recovered from the global financial crisis, the inflow of primary aluminum in 2020 (about 877,500t from January to October) is still well below the 1.5 million tons imported 11 years ago.Asian Metal Copyright6% from the same period last year.Asian Metal Copyright This is because the surge in aluminum imports this year has been driven by an increase in unwrought and alloy-aluminum inflows of more than 1 million tons from January to October.

.Asian Metal Copyright6% from the same period last year.Asian Metal Copyright