China Aluminium Semis Exports In September Unlikely To Exceed August Levels

SHANGHAI, Sep 21 (SMM) –According to customs data, China's total aluminium semis exports in August 2023 decreased by 0.9% month-on-month and 14.6% year-on-year to 439,500 mt. From January to August, China's total aluminium semis exports were approximately 3.52 million mt, a year-on-year decrease of 19%. Among them, the export volume of aluminium plate/sheet, strip and foil sectors was still weak, with both showing a decline compared with the same period last year. Exports of aluminium bars and rods remained generally stable year-on-year.

The recent interest rate hikes by the Federal Reserve and tariffs hike by Mexico have had a certain negative impact on Chinese aluminium semis exports; from the perspective of export profits, export profits have declined significantly amid widening gap between domestic and overseas aluminium prices. Export orders were sluggish. Judging from the export orders of mainstream aluminium plate, strip, foil and aluminium profile export companies, it is expected that China’s aluminium semis exports will hardly grow month-on-month in September.