China’s Primary Aluminium Imports See Mixed Trends in November

According to data from the General Administration of Customs of the People's Republic of China, primary aluminium imports into China fell by 13.8% in November 2024 compared to October. However, on an annual basis, imports rose by 22.5%. The Shanghai Stock Exchange (SMM) reported that China imported 150.7 thousand tonnes of primary aluminium in November, bringing total imports for the year to 1.975 million tonnes, a 44.5% year-on-year increase.

Russia remained China’s largest supplier in November, exporting approximately 100 thousand tonnes, accounting for 66.5% of China’s total aluminium imports for the month. Shipments from Russia to China have increased by 3.3% month-on-month, with cumulative imports from Russia reaching 1.003 million tonnes since the beginning of the year.

India and Indonesia also contributed significantly to China’s aluminium imports in November. Additionally, China has been exporting processed aluminium back to Russia for further refinement. From January to November 2024, these re-exported volumes totaled 349 thousand tonnes.

The trends highlight China’s strategic role as both an importer and exporter of primary aluminium within global supply chains, reflecting evolving trade dynamics in the region.