Recently, the General Administration of Customs released China's export data for June. According to SMM, the export volume of aluminum profiles and bars in China was 88100 tons in June 2019, down 8.6 percent from May and 3.7 percent higher than last year. (here aluminum profiles and bars include 5 tax codes: 76041010, 76041090, 76042100, 76042910 and 76042990)
Data source: SMM
The export volume of aluminum profiles and bars in June was slightly lower than in May, but from the data of previous years, it can be seen that the range of about 8% is still in the normal range.
The export volume in May was the second highest in the first half of the year, mainly due to factors such as RMB depreciation and seasonal reasons, while in June, the value of the RMB rose against the background of a high Shanghai-to-Shanghai ratio of 7.6 to 7.9. In the past 11 years, the export volume fell in June for seven years, so there are also reasons for the high export volume of aluminum profiles and bars to fall.
In the later stage, the export volume of aluminum profiles and bars still need to pay attention to the exchange rate changes, Shanghai-London ratio changes and domestic and foreign market changes and other factors.
