SHANGHAI, Apr. 21 (SMM) –China exported 360,000 tonnes of unwrought aluminum and aluminum semis in March, down 14.3% February, customs data showed.
SMM attributes the surprising decline to sharply falling overseas aluminum premiums and rising SHFE/LME aluminum price ratio, which hurt token exports of aluminum semis.
Despite unfavorable SHFE/LME aluminum price ratio from late March through early April, some Chinese processors continued to sell overseas at the expense of lowering processing fees, SMM's survey found. Others, by contrast, chose to cut exports. All in all, Q2 will not see strong aluminum semis exports, SMM's aluminum analyst Wang Chunhui said.
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