Yuan's appreciation weighs on Q1 export orders at aluminium die-casting plants

SHANGHAI, Apr 10 (SMM) – First-quarter export orders across companies that produced aluminium die-casting parts in Sichuan, Jiangsu and Zhejiang provinces declined as the yuan gained against the dollar, SMM learned.

As the yuan appreciated, Chinese products lost their advantages in foreign markets and aluminium plants saw their profit margins of exports eroded. The yuan stood at 6.29 in March, compared to 6.49 in January.

Aluminium die-casting plants with long-term contracts saw little pressure, while plants with short-term contracts were more affected.

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