June aluminium imports in China dropped 36.3% year-over-year

CHINA — According to government data released on Monday (Jul 18), China’s aluminum imports decreased 36.3% in June from the same month a year earlier, as domestic output increased and demand remained weak. According to data from the General Administration of Customs, the country imported 187,362 metric tons of unwrought aluminum and its products, including raw metal and unwrought, alloyed aluminum, last month.

During this year’s first six months, China imported 1.08 million tonnes of aluminum, a decrease of 25.9 percent from the same period last year.

Aluminum supply pressures have decreased as a result of power constraints, which was a significant contributor to price hikes and cargo inflows during the previous year.

The primary aluminum production in China reached a new high of 3.42 million tonnes in May and had fallen slightly in June, but this was still an increase of 3.2 percent when compared to the same time in 2013.

Related Posts

The sluggish demand for light metal, which has its primary end-user sectors in the real estate and automobile industries, coincided with the rising supply in an economy ravaged by a pandemic.

The gross domestic product (GDP) of China expanded by just 0.4 percent year over year in the second quarter, which is significantly slower than the economic expansion of the world’s second largest economy.

Aluminum production has been hampered in many countries throughout the world, including China, as a result of the ongoing energy crisis.

“Unlike the widening arbitrage window between Shanghai and London prices last year, the tightened supply and relatively higher prices in Europe could mean continuing limited imports of aluminium into the Chinese market,” Xiong Hui, the chief aluminium expert at state-backed research house Antaike, made the claim.

In comparison to the previous month, June saw a decrease of 0.6 percent in the amount of aluminum that was brought into the country.

According to the study, the amount of bauxite that was brought into the country in June dropped by 21.3%, from 11.97 million tonnes in May to 9.42 million tonnes. Bauxite is the principal source of aluminum ore.

Tags: Imports
Jasmine C.

Mabuhay! An upcoming Newswriter for the Asian Affairs from the Pearl of the Orient - Philippines. Avid follower of celebrity gossips, fashion news. I got into writing so that my fellow Kababayan will be constantly updated with the latest news.

Recent Posts

V Surprises ARMY with Two Holiday Releases: A Festive Collab with Park Hyo-shin and “White Christmas” Cover

For K-pop fans, the Christmas season this year has become even more magical as several of their preferred stars reveal…

November 22, 2024

Celine Names TWS as Global Ambassadors Following Suzy Bae Announcement

After Suzy Bae's nomination as Celine's worldwide ambassador, the venerable French luxury fashion company has taken another bold step choosing…

November 22, 2024

Reddit Faces Widespread Outage, Users Turn to Workarounds Amid ‘Server Error’ Messages

Thousands of users of the well-known social network Reddit were left without access after a major outage of the website.…

November 22, 2024

Anne Hathaway Casted as ‘Verity’ in Colleen Hoover’s Book Adaptation

Anne Hathaway is slated to play the much expected film version of Colleen Hoover's best-selling book Verity in front of…

November 21, 2024

Gucci Set to Revolutionize Fashion Presentations with Unified Shows in 2025 under Sabato De Sarno’s Vision

Gucci is ready to change its presentation approach for 2025 in a radical action aimed to revolutionize the fashion industry.…

November 21, 2024

South Korea’s “Korea Discount”: Addressing the Governance Gap to Boost Market Value

As world investors wait for significant changes that might solve long-standing problems of governance and responsibility in South Korea's companies,…

November 21, 2024

This website uses cookies.

Read More