Customs Export Data of Aluminum Wire and Cables in 2023

According to customs data, the total export volume of aluminum wire and cables in December 2023 was 17,000 mt, down by 9% MoM but up by 25% YoY. The export value of aluminum wire and cables in December was $50.14 million, down by 8% MoM but up by 16% YoY. The total export volume of aluminum wire and cables in 2023 was 191,700 mt, compared with that in 2022 of 177,600 mt, up by 8 percentage points YoY; the cumulative total export value of aluminum wire and cables in 2023 was $0.573 billion, down by 0.072% YoY.

In terms of export registration places, looking back at the export of aluminum wire and cables in 2023, Jiangsu Province, Henan Province and Hebei Province are still the top three provinces in terms of domestic aluminum wire and cable exports. In 2023, the three provinces exported a total of about 131,500 mt of wire and cables, accounting for 68.61% of all. Among them, Jiangsu Province’s export volume of aluminum wire and cables in 2023 reached 71,300 mt, accounting for 37% of all, up by 17% YoY; Henan Province’s export volume reached 40,000 mt, accounting for 21% of all, up by 65% YoY; Hebei Province's export volume reached 195,000 mt, accounting for 10% of all, but the export volume decreased by 37% YoY.

As for export destinations, orders were scattered throughout 2023 and export destinations were widely distributed. Except for the top fifteen export destinations, other scattered orders accounted for 41.8% of the total export volume. Among them, Southeast Asia was the largest export destinations throughout the year, including the Philippines, Vietnam, Myanmar and Bangladesh, with an export volume of 32,741 mt, accounting for 17.1%; followed by African region, namely Ghana and Nigeria, with the export volume of 18,582 mt, accounting for 9.7%.

In 2023, the export of aluminum cables increased by 14,000 mt compared with last year, up by 8 percentage points. However, at the same time, the export value decreased by US$410,000. Positive growth was not achieved, mainly as the base price of aluminum this year has shifted downward compared to last year. The average price of SMM A00 aluminum in 2023 was 18,699 yuan/mt, down by 6.2 percentage points YoY. At the same time, due to intensified domestic competition, the decline in processing fees also had a certain impact. Heading into 2024, driven by the development of new energy industries in Europe and the United States, investment along the Belt and Road, and the development of mineral resources and low-end manufacturing in emerging markets, the demand for overseas national power grid construction still exists, and China has the most complete power equipment industry chain. The export of aluminum cables is expected to be boosted by the continued release of demand. According to the export in previous years, export volume in December and January will swing on a soft note. It is expected that domestic aluminum cable export volume will continue to decline slightly in January.