SHANGHAI, Dec. 30 (SMM) –China’s aluminum semis exports soared 40.2% month-on-month in November. But, beware the data are not as rosy as they appeared to be.
The notable increase is driven by aluminum extrusion, whose exports rose 131,600 tonnes to 201,900 tonnes, customs data showed. Lower SHFE/LME aluminum price ratio, plus export rebate, opened window for aluminum extrusion exports, SMM understands.
In fact, exports of other aluminum semis dropped. Exports of aluminum plate/sheet and strip were down 10.4% from October to 113,000 tonnes in November, and exports of aluminum foil also slid 4.4% from October to 72,000 tonnes, according to China Customs.
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