India’s aluminium imports rose m-o-m by 16% in July 2022 to 220,000 tonnes (t) as against 190,000 t in June.
The country’s total aluminium imports stood at 1.38 million tonnes (mnt) in January-July, up marginally by 1% as against 1.37 mnt in the same period last year, as per SteelMint data.
- Semi-finished aluminium imports rise: Semi-finished imports were up 31% m-o-m at 28,255 t in July as against 21,487 t last month. Imports from Qatar were the highest at 8,762 t in this period, up 69% compared to 5,185 t in June, followed by Bahrain at 4,854 t.
- Finished aluminium imports edge up: Imports of finished aluminium products stood at 40,366 t in the period under review as against 37,214 t last month, up 8% m-o-m. The highest volumes were imported from China at 27,488 t in July, a rise of nearly 22% compared to 22,651 t in June, followed by Thailand at 5,370 t.
Aluminium scrap imports spike
Aluminium scrap imports were recorded at 153,666 t in July, a hike of 16% m-o-m compared to 132,861 t last month. The highest volumes were imported from the USA at 52,643 t, a rise of nearly 47% compared to 35,786 t in June, followed by Saudi Arabia at 16,105 t.
What was the imports volume of ores/concentrate?
If we look at the raw material of Aluminium imports, it was recorded at 0.81 mnt in July’22, a rise of 19% as against 0.68 mnt in the previous month, data compiled by SteelMint shows.
Factors
The key factors behind high imports were supportive monthly average prices of scrap as well as primary aluminium ingots (P1020), which were higher by 0.76% and 1.15%, respectively, in July against the previous closing prices of INR 150,761/t for scrap and INR 230,076/t for ingots.
However, aluminium alloy ingot average prices contracted slightly by 2.66% to INR 186,400/t in July against the average June price. However, a supportive factor was that exports of semi-finished material from India to China moved up by around 6% to 8,442 t in July as against 7,993 t in June.
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