SINGAPORE- China’s imports of unwrought aluminum and aluminum products in October slid 8.7 percent year-on-year to 320,000 metric tons year-on-year, customs data showed on Monday.
Imports for the first ten months of this year totaled 3.17 million tons, up 32.4 percent from a year earlier, according to data from the General Administration of Customs.
The data includes primary metal and unwrought, alloyed aluminum.
Imports of bauxite, a key raw material for aluminum, rose 11 percent in October to 12.29 million tons. For the first ten months of the year, imports were up 11.9 percent to 131.56 million tons.
Earlier, China said its iron ore imports in October climbed by 4.48 percent from the prior year, official data showed on Thursday, as steelmakers’ margins improved thanks to Beijing’s massive economic stimulus package spurring more buying.
China, the world’s largest iron ore consumer, brought in 103.84 million metric tons of the steelmaking ingredient last month, according to data from the General Administration of Customs.
The figure takes the number of months so far this year when volumes exceeded 100 million tons to eight. It compares to 104.13 million tons in September and 99.39 million tons in October 2023.
China announced stimulus measures in late September to bolster its economy, and steelmakers’ margins improved as steel prices rose.
The average daily hot metal output in October was 4.1 percent higher than in September, while around two-thirds of Chinese steelmakers surveyed were operating at a profit in late October, versus less than a fifth at end-September, data from consultancy Mysteel showed.
Hot metal is a blast furnace product, typically used to gauge iron ore demand.