In July, aluminium extrusion exports decreased by 7.48% MoM [SMM Analysis]

According to customs data, in July 2024, domestic aluminium extrusion (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) exports amounted to 90,300 mt, down 7.48% MoM and up 0.83% YoY.

Among the export registration locations, the top three provinces in July remained Guangdong, Shandong, and Jiangsu. According to the SMM survey, the initial impact of anti-dumping measures in the US and other regions has emerged, with some companies directly exporting to the US reporting a sharp drop in export orders in July, and some even seeing their orders to US companies drop to zero.

Among export destinations, Vietnam remained the top in July, accounting for 6.06% of the total export volume; Israel ranked second with 5.68%; and India was third with 5.30%.

Overall, LME outperformed SHFE in July, which was beneficial for domestic producers to plan their exports, but the rapid narrowing of the price spread, combined with the traditional off-season and the initial impact of overseas anti-dumping measures, led to a sharp decline in orders to the US and other regions, weakening the MoM export volume. With overseas anti-dumping policies set to take effect in Q4, short-term overseas end-users maintain large procurements, but long-term orders remain uncertain. It is expected that the export volume in August will maintain a YoY growth trend.