China's Aluminum Market Moves Into Surplus During July

Harbor Intelligence reported that China’s apparent aluminum demand declined and the country’s market balance widened last month.The country this week reported that July imports of unwrought unalloyed aluminum were nearly steady compared to the prior month at 28,669 metric tons. Meanwhile, net exports of semi products fell in July to 185,000 tons from an 11-month peak the prior month of 228,000 tons. “We estimate that Chinese apparent primary aluminum demand fell by 10.4% m/m to a four-month low, contracting also in annual terms by 4.4%,” Harbor says. “China’s apparent market balance widened to a surplus of 786,858 tons after having remained in deficit since March.”