January 14, 2019 / 3:42 AM / 4 months ago

China 2018 aluminium exports rise 20.9 pct to record yearly high

BEIJING, Jan 14 (Reuters) - China’s aluminium exports in 2018 rose 20.9 percent from a year earlier to a record high, according to customs data released on Monday, as sanctions by the United States on Russian producer Rusal spurred demand for Chinese metal.

The world’s top aluminium producer exported 5.8 million tonnes of unwrought aluminium and aluminium products last year, the General Administration of Customs said, despite a 10 percent tariff on aluminium imports into the United States imposed in March.

Shortages caused by the U.S. sanctions on Russia’s United Company Rusal raised demand for Chinese supply.

Separate U.S. duties on Chinese aluminium products such as foil and alloy sheet also failed to dent overall exports.

In December, exports dropped 0.6 percent from the previous month to 527,000 tonnes as the price arbitrage to international markets narrowed, the customs data showed.

Exports last month rose 19.8 percent from 440,000 tonnes in December 2017.

Exports in November were revised to 530,000 tonnes, the second-highest on record.

November was the first month that exports of semi-fabricated aluminium from China could receive a higher 16 percent value-added tax rebate, encouraging shipments.

For more details, click on (Reporting by Tom Daly; Editing by Christian Schmollinger)

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