The country’s imports of the metal were 26kt, down 77.8% from the previous month and the lowest since March 2009. Exports were minimal, at 3200t, although they were up slightly from September. Net imports for the month were 22.8kt, down 80.2% m-o-m.

Cumulative imports of the non-alloyed metal for the first 10 months were 1.4Mt, up 1273.5% y-o-y, while exports were 15kt, down 76% y-o-y. Hence a net import of 1.37Mt for the 10-month period.

According to new CNIA data, primary production reached a new high of 1.29Mt in October, up 6.2% m-o-m and rising 17% y-o-y. That equates to an annual rate of over 15.2Mt, a record high. In the first 10 months of 2009, the country produced a total of 10.37Mt, still 7.84% lower than the year-earlier level.

Source: China Metals e-mail infochn@public.bta.net.cn