Aluminum foil exports moved rangebound, with risks of declining in the future [SMM Analysis]

According to customs data, China's aluminum foil exports in April 2024 were 121,600 mt, down 3% MoM but up 7% YoY.

By export destination, India, Thailand, Mexico, and the UAE remained the major recipients in April. China's aluminum foil exports to the top 10 destination countries totaled 73,500 mt, accounting for 60% of the total.

In the short run, most aluminum foil exports for May and June have already been ordered and are in production. According to feedback from companies, the short-term export volume is not expected to experience significant fluctuations, with a slight MoM variation and a substantial YoY increase. However, in the long run, some aluminum foil producers have reported insufficient MoM increases in overseas orders, and even showed signs of declining. Together with the unpredictable international situation and ongoing trade frictions, there is a risk of a decrease in aluminum foil export volumes, so we should not be overly optimistic about the market.