China exported 439,100mt of unwrought aluminium and aluminium products in May up from 437,285mt in April. For the January to May period, exports rose to 2.161mn mt up by 7.5pc from the prior year period, according to data from China’s General Administration of Customs.
In May, China imported 445,725mt of unwrought copper and copper materials down from 484,890mt imports in April as copper prices hit all-time highs on LME. While total imports from January to May rose by 8.4pc to 2.366mn mt from 2.182mn mt in the prior year period.
China’s imports of copper ore and concentrates were at 1.945mn mt in May. For the January to May period, imports rose to 9.828mn mt, an increase of 6.4pc from 9.241mn mt in the prior period.
Higher commodity prices have dampened import volumes and challenged Chinese manufacturers. Chinese authorities are trying hard to stabilize prices of key raw materials like copper, aluminium and steel. On the contrary, rising demand from domestic industries to cater to the local market as well as export orders and the country’s focus on reducing carbon emissions across industries is expected to support higher prices.