Chinese aluminum exports rose by 20.9% to a record high in 2018 from a year earlier as the US sanctions on Russian aluminum producer Rusal stimulated demand for aluminum in China, according to customs data.
The statistics showed that the exports of aluminum fell by 0.6% to around 530,000 tons in December 2018 compared to the previous month, but up by 19.8% from the same month a year earlier. Besides, in 2018, China exported around 5.8 million tons of unwrought aluminum and aluminum, despite a 10% tariff imposed by the US on aluminum imports in March.
Chinese aluminum suppliers have profited from a global jump in prices caused by a supply shortage caused by the US' sanctions against Rusal announced in April. The US' tariffs on Chinese aluminum products such as foil and alloy sheets have also failed to impact overall exports.
Chinese aluminum exports surge by 20.9% in 2018 y-o-y
23 Jan 2019 13:31 reported by Lemon
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