China’s aluminium imports from Russia more than tripled in the first two months of this year, according to customs data released on Monday. The figures show a 266.2% surge in imports from Russia, as Chinese buyers turn to the country to meet their rising demand for the metal, and Western firms remain cautious about trading with Russian metal producers.
The world’s largest consumer of aluminium imported a total of 105,300 tonnes from Russia in January and February 2023, up from 28,759 tonnes for the same period in the previous year. The data also revealed that Russia was China’s third-largest supplier of aluminium during the first two months of the year, after Australia and Malaysia.
This significant increase in imports from Russia comes as China’s demand for aluminium continues to rise, due to the country’s ongoing infrastructure and construction projects. With Western firms still hesitant to engage with Russian metal producers due to geopolitical tensions, Chinese buyers have turned to Russia to meet their demand.
China’s continued reliance on imported aluminium is also linked to the country’s efforts to reduce its carbon footprint. Aluminium production is an energy-intensive process that contributes to greenhouse gas emissions. As China seeks to reduce its carbon emissions, it has been importing aluminium from countries with cleaner energy sources.
In addition to China’s growing demand for aluminium, the surge in imports from Russia may also be attributed to the sanctions placed on Russian companies by Western countries. These sanctions have made it difficult for Russian metal producers to find buyers in Western markets, leading them to turn to countries like China to sell their products.
Despite the increase in imports from Russia, China’s aluminium imports from other countries have declined in recent months. Total imports of aluminium and products made from the metal fell by 18.5% year-on-year in January and February, due in part to the country’s efforts to reduce pollution and energy consumption.
In conclusion, China’s aluminium imports from Russia have more than tripled in the first two months of this year, as Chinese buyers turn to the country to meet their rising demand for the metal. The surge in imports from Russia is also linked to Western firms’ reluctance to engage with Russian metal producers, due to geopolitical tensions and sanctions. However, China’s efforts to reduce its carbon footprint and overall imports of aluminium may impact future trends in the industry.
