China's Imports Of Aluminum From Russia Increased By 10 Times In January

- Feb 26, 2019-

According to foreign news on February 25th, the data released by the General Administration of Customs on Monday showed that the amount of primary aluminum imported from Russia in January increased tenfold year-on-year. China imported 11,185 tons of aluminum from Russia in January, compared with 1,109 tons in the same period last year.

In the fourth quarter of 2018, China imported more than 56,000 tons of Russian aluminum, of which 22,007 tons were imported in December, the highest monthly level of imports from Russia in at least 2016. At the end of January, the United States lifted sanctions against Russian aluminum giant RUSAL. Traders and analysts had expected that Russia would try to sell aluminum to China under the influence of the US announced sanctions against RUSAL in April last year.

However, customs data shows that in the third quarter of last year, Russia's total aluminum exports to China totaled only 1,237 tons, and then increased significantly at the end of the year. It is unclear who received the Russian aluminum, China is also the world's largest aluminum producer, the demand for foreign aluminum is not high, especially when the current demand is sluggish and the price fell to a two-year low last month. RUSAL established its own trading company in Beijing last year, and its role is partly to develop aluminum imports. RUSAL has a trading joint venture in Shenzhen, China.