SHANGHAI, Oct. 28 (SMM) -- According to China Customs, China’s exports of aluminum semis were 230,000 mt during September, up 37.3% YoY. Imports of aluminum profile were 67,900 mt, up 67.8% YoY, while exports of aluminum plate, sheet and strip were 100,900 mt, up 31.63% YoY.
Exports of aluminum semis in September were down 40,000 mt from August, down 17.4% MoM. Exports of aluminum profile were down 10,000 mt from August, exports of aluminum plate, sheet and strip were down 27,900 mt from August, and exports of aluminum foil were down 5,000 mt from August.
SMM believes the export situation became grimmer in September. Since the SHFE/LME aluminum price ratio continues to improve and export-oriented aluminum plate, sheet, strip and profile enterprises make quotation based on LME aluminum price plus processing fee, they will suffer more losses from more exports and many enterprises have to raise the processing fee in a bid to minimize losses. In the meantime, weaker overseas demand also limited exports of aluminum semis. At the ongoing Canton Fair, many aluminum profile producers said orders in 2011 are weaker than past years, and higher processing fee also causes some overseas customers to choose other markets for purchases.