Aluminum foil exports in May met expectations, with a risk of decline after August [SMM Analysis]

Customs data shows that in May 2024, China's aluminum foil exports reached 130,100 mt, up 7% MoM and 15% YoY.

By export destination, India, Mexico, and Indonesia remained top-ranked in May, while Thailand unexpectedly declined. In May, China's aluminum foil exports to the top 10 destination countries totaled 78,100 mt, accounting for 60% of the total aluminum foil exports.

In the short term, most orders for aluminum foil exports in June and July have already been placed and are in production. According to feedback from companies, aluminum foil export volumes are not expected to experience significant fluctuations, with a slight MoM variation and a significant YoY increase. In the long run, some aluminum foil producers reported insufficient MoM growth in overseas orders, with some even showing signs of decline. Together with the unpredictable international situation and ongoing trade frictions, the aluminum foil export market in August and beyond remains to be seen, with a considerable potential for a decrease in export volumes.