China Aluminum Semis Exports Unlikely to Rebound Significantly in March, SMM Says

SHANGHAI, Mar. 28 (SMM) –A slump in China’s aluminum semis exports in February sparked concerns over export volumes in March. SMM sees any potential rebound to be marginal. 

Higher SHFE/LME aluminum price ratio, which climbed above 7.6 in March, will be the main constraint on aluminum semis outflows, SMM explained. 

Some Chinese traders told SMM that they will cut exports against unfavorable price ratio. Large aluminum processors reported stable export orders, though, SMM learns, since those producers have signed long-term contracts with overseas buyers.  

Customs data showed China’s aluminum semis exports totaled 260,000 tonnes in February, down 34.1% from a year ago and down from January’s 330,000 tonnes. The Chinese New Year holiday was mainly blamed for the decline. 

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