South Korea's imports of Australian primary aluminium have fallen so far this year, but the shipments of aluminium flat products from China into South Korea have risen, the latest trade data from the latter showed.
South Korea imported 344,507 tonnes of primary aluminium in January-April, down 15.5% year on year, according to data from the Korea International Trade Association (Kita). During this period, imports from Australia fell 42% year on year to 73,642 tonnes - in April alone, imports from the country halved to 16,021 tonnes compared to a year ago. India overtook Australia as the number one primary aluminium supplier to South Korea in 2017. Industry participants had attributed the shift to cheaper premiums for Indian material, alongside production disruptions in Australia. The steeper rate of decline in Australian imports so far this year - and particularly in April - is likely due to Australian metal being diverted to the United States after US Midwest premiums rose and Australia won temporary exemptions from the 10% import duty imposed by the US after Section 232 investigations, traders said. The delivered US Midwest aluminium premium had reached as high...