According to data released by the General Administration of Customs, China’s aluminum imports in June increased by 30% from the previous month.
Imports of unforged aluminum and aluminum products (including primary aluminum and unforged and alloyed aluminum) in June were 294,081 tons, up from 225,458 tons in May, an increase of 1.8% year-on-year.
According to the customs, the total import volume from January to June was 1.46 million tons, a year-on-year increase of 79.2%.
As the largest aluminum producer, China has imported aluminum far more than before since mid-2020. The strong demand has boosted Shanghai aluminum prices far higher than London aluminum prices, thus opening an arbitrage window.
China’s bauxite imports in June were 10.14 million tons, down 3% year-on-year, but an 11.3% increase from the 9.11 million tons in May; imports in the first half of the year fell 5.5% year-on-year to 55.14 million tons.