Yet, this sequential uptick didn’t surpass the 339,000 tonnes imported in Q2 2024. However, it did outpace Q3 2024’s figure of 300,600 tonnes and marked a 10.97 per cent rise year-on-year from 292,000 tonnes, reinforcing the upward trajectory driven by policy anticipation and domestic demand.
February surge: a pre-tariff rush
The spike in imports was largely influenced by a sharp rise in February, when shipments totalled 101,000 tonnes, following a subdued 56,900 tonnes in January. Although March imports dipped 2.38 per cent month-on-month to 98,600 tonnes, the overall Q1 growth remained intact.
This front-loading of imports was triggered by the Trump administration’s announced tariffs on aluminium, set to take effect on March 12. The preemptive buying in February wasn’t just a reaction to looming import costs but also aimed to sidestep anticipated retaliatory duties from trade partners, a factor that drove both imports and exports.
