China’s unwrought aluminium alloy imports in Oct’23 grow 17.5% M-o-M buoyed by outstanding orders

The increase in China’s unwrought aluminium alloy imports in October was primarily due to the outstanding orders from August and September. Domestic aluminium prices kept increasing in September, reaching above RMB 19,000 per tonne, while overseas quotations remained stable at $2,240-2,270 per tonne, encouraging imports in the said month.

Meanwhile, there were rising overseas raw material prices and falling RMB exchange rates. Offers from Malaysia, South Korea, and other regions increased to $2,300 per tonne. Furthermore, the import window closed, which might affect China’s imports.