India’s total non-ferrous aluminium imports stood at 400,990 tonnes (t) in October 2022 compared to 413,247 t in September, a marginal fall of 3% m-o-m. This was the lowest import volume recorded in the last 8 months, as per Customs data maintained with SteelMint.
Similarly, on yearly basis too, the imports of aluminium tumble significantly by 31% from 0.58 million tonnes (mnt) in the corresponding period of last year.
Sub-commodity shipments
- Ore/concentrate imports slip: India imported around 196,958 t in the reviewing month against 202,881 t in the previous month, a slight fall of 3% was noticed. Notably, Oct shipments are eight months low.
- Scrap imports fall: Scrap imports to India fell by 8% in October, to 141,173 t, from 151,939 t the previous month.
- Finish product import increase: In contrast to raw material imports, finished aluminium product imports volume stood at 62,859 t in October, compared to 58,428 t in September.
Supply side trends
- Indonesia remains the prominent exporter: Indian buyers imported 92,099 t from Indonesia in October, up by 16% as against 79,280 t in September. Similarly, imports increased by 20% year on year (y-o-y) from 76,789 in October 2021.
- Imports from China at an all-time high: Imports from China have reached an all-time high since SteelMint began tracking the data. October imports stood at 51,484 t which is significantly up by 71% from 30,164 t in September.
- Imports increase from other sources: The other prominent scrap sourcing countries were Vietnam, United States, United Arab Emirates which saw a great m-o-m hike in their supplies to India for the month of October though volumes are very minor in actual terms. The countries exported a quantity of 48,935 t (up by 53%), 43,499 t (up by 7%) and 15,136 t (down by 11%) individually.
Leave a Reply