China’s aluminum imports hit annual record in just 11 months of 2021

Dec 18 (Reuters) – China’s aluminum imports hit a record in 2021 within a month of the end of the year, customs data showed on Saturday, as restrictions on energy use by domestic smelters propped up demand for it. metal abroad.

The arrival of products and crude aluminum, which include primary metals and crude aluminum alloy, totaled 397,915 tons in November, 34% more than the 297,043 tons in October and an increase of 109.3% year-on-year.

That was the highest monthly total since August 2020 and brought imports for the first 11 months of the year to 2.97 million tonnes, beating the annual record of 2.7 million tonnes in 2020.

China, the world’s leading aluminum producer, is a net exporter of the metal, but has been importing unprecedented volumes as its rapid recovery from the coronavirus outbreaks last year sent local prices well above international values, which which opened a so-called arbitration for the entry of cheaper metals from abroad.

Domestic production has been constrained by controls on energy use by energy-intensive industries in several Chinese regions.

Chinese imports of bauxite, the main aluminum ore, were 7.7 million tonnes in November, customs said, down 19% from 9.54 million tonnes in October and down 6.6% year-on-year. .

Bauxite imports from January to November fell 5.2% year-on-year to 98.69 million tonnes. (Reporting by Tom Daly and Hallie Gu; Edited in Spanish by Javier Leira)



Reference-www.infobae.com

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