Aluminium foil export experienced negative growth [SMM analysis]

Customs data shows that China exported 104,800 mt of aluminum foil in December, down by 4 percentage points MoM and 4 percentage points YoY, fluctuating slightly. In 2023, China exported a total of 1.3092 million mt of aluminum foil, down by 154,600 mt YoY and down by 26,100 mt compared with 2021. The export of aluminum foil was very severe.

India, Thailand, Indonesia, Mexico, and the United States were still the major export destinations in December. In terms of export registration places, Jiangsu, Zhejiang, Shandong and other places were still major provinces for aluminum foil export. The industry's export structure remained stable.

SMM believes that the global economic downturn is expected to continue to suppress the demand for aluminum foil in overseas markets. In the future, monthly export volume of aluminum foil may continue to fluctuate within a narrow range between 100,000 and 130,000 mt.