SHANGHAI, : China’s imports of aluminium scrap rose 7.4% from a year ago and barely changed from a month ago to stand at 141,000 mt in August, the first month after import restrictions on high-grade aluminium scrap took effect, showed data from China Customs.
The volume of third quarter’s import quotas for the so-called Category Six aluminium scrap of higher Al grades generally matched the realised imports during the same period last year. This, together with the price advantage of overseas aluminium scrap, kept imports at highs in August.
China’s imports of aluminium scrap may edge lower in September on rising concerns about a scale-back in quotas to be granted for the fourth quarter.
For unwrought aluminium alloy, imports in August reached the highest since 2018 and stood at 16,008 mt, up 27.9% on the month and 143.3% on the year, according to customs data.
Significant prices advantage of seaborne secondary aluminium ADC12 boosted imports of unwrought aluminium alloy since June.
Tighter feedstock supply on potential lower quotas for the fourth quarter will continue to push up prices of domestic secondary aluminium, prompting importers to take more unwrought aluminium alloy from overseas in September-November.