SHANGHAI, Feb. 22 (SMM) -- According to China Customs, China exported 200,000 mt of aluminum semis during January, down 8.8% YoY, and down 4.8% MoM. SMM believes rising SHFE/LME aluminum price ratio and minimal export profit margins caused aluminum semis exports to fall continuously.
In January, exports of aluminum extrusion were 62,000 mt, up 16.7% YoY; exports of aluminum plate, sheet and strip were 82,000 mt, down 24.3% YoY; and exports of aluminum foil were 48,000 mt, down 2.5% YoY.
Aluminum semis exported in January was mainly ordered in December when the SHFE/LME aluminum price ratio was as high as 7.95. In addition, the Christmas holiday fell in December, and most overseas customers chose to offer bookings after the holiday.
SMM predicts China’s exports of aluminum semis will improve in February as the SHFE/LME aluminum price ratio slips in January.