SHANGHAI, Jul. 15 (SMM) – Aluminum premiums in Asia have plummeted to $90-100 per tonne from $380 per tonne early this year. Will lower premiums inhibit outflow of aluminum semis from China?
SMM sees little immediate impact on Chinese exports.
Given saturated domestic market, exports will remain the way out for Chinese producers.
Besides, despite lower premiums overseas, exports remain profitable, partly due to export rebate enjoyed by semis and removal of provisional export duty on some aluminum products.
China’s monthly exports of unwrought aluminum and aluminum semis have held around 400,000 tonnes this year, much higher than the same period last year, customs data showed. The country exported 450,000 tonnes of unwrought aluminum and aluminum semis in June, according to China Customs.
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