China’s aluminum exports exceed imports for 2 consecutive months
Views : 165
Update time : 2022-05-11 19:10:25
According to statistics from the General Administration of Customs of China, China exported around 42,000 tons of primary aluminum ingot in March this year, surging by 55 times compared to the same month a year ago. However, the imports dropped by 55% year on year to roughly 39,000 tons in March. The export volume exceeded imports for two consecutive months after February, making China become a net aluminum exporter.
Due to the high fuel prices caused by the Russia-Ukraine war, European aluminum companies had no choice but to cut their production, causing a short supply of aluminum in Europe and the US markets. In contrast, the demand was weak and supply was more than demand in China due to the country’s epidemic lockdowns and automobile production cuts. Therefore, China increased its aluminum sales to the European market and earned price differences.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
