China's unwrought aluminum and aluminum semis exports rose in April and poised to sustain growth into May

Customs data showed that China exported 520,000 mt of unwrought aluminum and aluminum semis in April, up 12.6% YoY; exports totalled 1.998 million mt from January to April, up 8.8% YoY. Exports improved in April amid low SHFE/LME aluminum price ratio. Export orders of aluminum extrusion, aluminum plate/sheet and strip, aluminum foil and aluminum alloy all reported YoY positive growth. It is worth noting that the recent increase in overseas trade barriers will somehow affect China's aluminum semis exports, but there is still growth room in Southeast Asia and Middle East markets, and exports are expected to maintain a growth trend in May.