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Aluminum ore is an important mineral resource, mainly used to produce aluminum metal and alumina and other important raw materials. According to CRI's analysis, aluminum ore and its downstream industry chain involve many fields such as construction, transportation, packaging containers, mechanical equipment, electronic appliances and electricity. The construction, transportation and packaging industries are the main application industries for aluminum. Aluminum is an ideal material for automobiles to carry out light-weighting. Driven by energy-saving and emission reduction policies and the rapid expansion of new energy vehicles, the trend of light-weighting automobiles is developing rapidly, driving the demand for aluminum ore.
China needs to import a large amount of aluminum ore every year because of the limited reserves of China's indigenous aluminum ore resources. In 2021, China's aluminum ore imports reached 107 million tons, down 3.87% year-on-year, with an import value of US$5.133 billion, up 2.18% year-on-year. From January to October 2022, China imported 104 million tons of aluminum ore, up 14.01% year-on-year, with an import value of US$6.019 billion, up 41.35% year-on-year.
CRI analysis, in 2018-2022, the average price of aluminum ore imports in China generally shows a change trend of first decrease and then increase. In 2018-2020, the average price of aluminum ore imports in China decreases continuously, from US$52.96 per ton in 2018 to US$45.02 per ton in 2020.In 2020-2022, the average price of aluminum ore imports in China increases continuously. From January to October 2022, the average price of China's aluminum ore imports was US$58.07 per ton, an increase of 23.98% year-on-year.
The source countries of China's aluminum ore imports are relatively concentrated. In 2021, China imported aluminum ore from 12 countries, among which, by import volume, Guinea, Australia and Indonesia are China's main sources of aluminum ore imports. CRI analysis shows that China's aluminum ore imports from these three countries accounted for more than 99% of the total aluminum ore imports in that year. Guinea is China's largest source of aluminum ore imports, with China importing 55 million tons of aluminum ore from Guinea in 2021, accounting for 51.03% of the total import volume with an import value of US$2.703 billion, accounting for 52.65% of the total import value.
China is a major importer of aluminum ore globally. As China's construction, transportation and packaging industries grow and demand for aluminum continues to increase, CRI expects China's aluminum ore imports to continue to rise over the 2023-2032 period.
Topics covered:
- China's Aluminum Ore Import Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on China's Aluminum Ore Import?
- Which Companies are the Major Players in China's Aluminum Ore Import Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in China's Aluminum Ore Import
- What are the Key Drivers, Challenges, and Opportunities for China's Aluminum Ore Import during 2023-2032?
- What is the Expected Revenue of China's Aluminum Ore Import during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in China's Aluminum Ore Import Market?
- Which Segment of China's Aluminum Ore Import is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing China's Aluminum Ore Import?