As worldwide primary aluminium output climbed 3.9% YoY to 6.116 million tonnes in October, prices for the metal stayed stable at 203.45, according to figures from the International Aluminium Institute (IAI). China’s main imports of aluminium from January to October increased 173% year over year to 1.17 million metric tons, while exports fell 41.19% to 113,400 metric tons.
With a notable YoY increase of 347.33%, net imports came to 1.06 million metric tonnes. China’s imports of aluminium increased by 221.19% YoY and 7.9% MoM to 216,600 metric tons in October alone, while exports decreased by 4.67% YoY and 91.29% MoM to 600 metric tons.
The “whitelist” lending support being drafted by Chinese regulators, including the People’s Bank of China, is expected to benefit 50 property developers. Smelters in Yunnan province initiated a cut of 1.15 million tons of capacity in November to comply with anticipated power curbs until April.
Yunnan is the fourth-largest aluminium-producing region in China, with around 5.7 million tons of capacity, constituting approximately 12% of the country’s total capacity. China’s aluminium imports, rising for the fifth consecutive month in October, reached 2.39 million tons for the first ten months of the year, reflecting increased buying activity amid solid demand and expectations of reduced domestic supply.
