Chinese Aluminum Imports Surge In June
According to Reuters, China imported more aluminum in June 2020 than it has at any point in the last 11 years. Imports were up an incredible 490 percent from June 2019, and were at their highest levels since June 2009. The 288,783 tons were “more than double May’s imports of 119,145 tons.”
China exported 354,038 tons, a decrease of 30 percent from previous years. China’s imports for the six months from January to June 2020 were up 219 percent over the same period in 2019, “leaving China a net exporter of 1.5 million tons in the first six months of 2020.”
Reuters explained, “imports of unwrought, alloyed aluminum … have also been rising in recent months to compensate for curbs on inbound scrap metal shipments.”