SHANGHAI, Feb. 24 (SMM) -- According to China Customs, China’s exports of aluminum wire and cable were 11,738 mt during January, up 112.42% YoY, the biggest growth among all aluminum semis during January.
SMM sources report that China’s exports of aluminum wire and cable were down by 676 mt from December due mainly to the Chinese New Year holiday.
There are three reasons behind the significant YoY growth in aluminum wire and cable exports in January. First, total exports in 2011 grew by 27.61% YoY, and export orders at wire and cable producers were sufficient, with goods exported in January mainly for fulfilling pre-holiday orders. Second, the SHFE/LME aluminum price ratio slipped in January, lending some support to exports of aluminum wire and cable. Third, export orders at medium and large aluminum alloy stranded wire producers increased, with aluminum alloy stranded wire enjoying more advantages than common conductors.
SMM predicts China’s exports of aluminum wire and cable will remain stable during February.