Recent Chinese customs statistics noted an increase in copper and aluminum imports during January-October compared with the prior year.
The value of China’s copper and aluminum imports in the first 10 months of 2020, rose by 18.3pc and 35.7pc to $39.4bn and $6.6bn, respectively, from the same period in 2019. In October alone, these imports were valued at $4.6bn and $712mn. Copper and aluminum exports were valued at $5bn and $19.6bn, respectively, in the first 10 months, down by 10.9pc and 8.8pc over the prior year. In October, these exports were worth $560mn and $2.2bn, respectively.
In January-October, exports of nickel, lead, and zinc tallied at $459mn, $37mn and $198mn, respectively. Nickel exports declined by 38.5pc while lead and zinc fell 16.9pc and 21.3pc, respectively, over the prior-year period.
Chinese imports of nickel, zinc, and lead in the year till October were worth $3.3bn, $103mn, and $1.5bn, reflecting negative trends of 31pc, 69pc, and 14pc over the prior year, respectively.
Actual volumes of the metals traded were not disclosed by the customs release.
|Category||Export||Import||Variation in YTD (in pc)|
|Base Metals||Oct-20||YTD 2020||Oct-20||YTD 2020||Exports||Imports|