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China’s aluminium, alumina imports show unexpected surge in April
May 22, 2014 - 07:00 GMT
China’s aluminium imports were unexpectedly high in April at 35,199 tonnes, with some market participants attributing the figure to financing demand for the light metal.
The imports were up 150.9% year-on-year, the latest customs
data showed. "The shipments were more than expected, as high
premiums for imports have choked demand," a trader said. The
April imports were 14.7% lower than the previous month but
above market expectations. Premiums for imported
aluminium ingots have stayed around $370 per tonne in the past
few months, resulting in large losses for Chinese importers.
Spot deals were scarce. There were possibly two kinds...
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Euromoney Institutional Investor PLC.
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