Chinese Aluminum Imports Hit 6-Year Low as Domestic Production Rises

Chinese refined aluminum imports in December fell to a 6-year low as domestic production surged.

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Inbound shipments of primary aluminum shrank to 1,857 tons in December, a tumble from 76,060 tons the previous year, according to data from the General Administration of Customs on Friday. The monthly figure was the lowest since June 2008. Full-year imports slumped 27%f to 267,700 tons.

The cash price of primary Indian aluminum saw the biggest increase at 1.5%, finishing at INR 115.35 ($1.87) per kilogram for Thursday, January 22. The 3-month price of aluminum declined 0.1% on the LME to $1,832 per metric ton, after two days of improvement. Following a two-day rise on the LME, the cash price of primary aluminum flattened at $1,831.

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Chinese aluminum closed mixed on Thursday. The cash price of Chinese aluminum rose 0.2% to CNY 12,730 ($2,049) per metric ton after a two-day drop. After falling for two days, the price of Chinese aluminum bar rose 0.2% to CNY 12,740 ($2,051) per metric ton. The price of Chinese aluminum scrap remained steady at CNY 12,300 ($1,980) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,200 ($2,125) per metric ton.

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