According to statistics from Japan's Ministry of Finance, Japan’s primary aluminum imports dropped by 26% to 1.03 million tons in 2023, hitting the lowest since at least 1986.
However, China’s primary aluminum imports in 2023 surpassed Japan’s, reaching around 1.54 million tons, more than doubled the volume recorded in the previous year, owing to higher consumption and prices and a strong economy.
The decrease in Japan’s aluminum imports was due to lower demand from the domestic construction and manufacturing industries. Japan's domestic economic conditions continue to weaken, resulting in reduced demand for raw materials such as aluminum. In addition, Japan’s development of the aluminum industry and policies of energy saving and emission reduction have also curbed import demand.
Japan’s primary aluminum imports hit new low in 2023 due to demand slowdown
31 Jan 2024 15:33 reported by Joy Liu
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