Jan 21(LTIT) - On January 20th, data released by the General Administration of Customs on Wednesday showed that China’s primary aluminum imports in 2020 reached the highest level in 11 years, and due to the new crown virus crisis, the supplier’s choice was greatly reduced, and the raw material alumina imports reached The highest level in five years.

In 2020, the import volume of primary aluminum was 1.06 million tons, a 14-fold increase from the previous year. Due to the rapid recovery of demand from the epidemic, the price of aluminum in Shanghai was higher than that in London, providing arbitrage opportunities.

However, although total imports of aluminum products including unwrought aluminum products (including unwrought aluminum alloys) hit a new annual high, they are still below the 2009 record high of 1.5 million tons.

Imports of primary aluminum in December were 130,535 tons, more than double the previous month.

In 2020, China imported 3.8 million tons of alumina, the highest since 2015. Due to the opening of similar arbitrage activities, and in the case of low demand in the West, China, the number one producer, has become the default destination for goods.

Starting from November 1st, imported scrap copper that meets the standards can freely enter the domestic market as a renewable resource, which means that its imports will no longer be subject to the import ban on solid waste. Therefore, the import of scrap aluminum and scrap copper surged in December.