Aluminium exports in Nov rebound on lower yuan, tariff uncertainty

Published: Dec 10, 2018 12:00

Save

China exported 536,000 mt of unwrought aluminium and aluminium products in Nov, up some 54,000 mt from Oct

SHANGHAI, Dec 10 (SMM) – China exported 536,000 mt of unwrought aluminium and aluminium products in November, up some 54,000 mt from October, showed China Customs data.

On a yearly basis, November’s exports jumped 41.1%. This brought the tally in January-November up 20.2% from a year earlier to stand at 5.28 million mt.

The yuan's depreciation as well as trade uncertainty in the overseas market prompted firms to rush out shipments and drove up aluminium exports in November.

The month-on-month increase in exports of aluminium came after three consecutive months of declines.

Customs data Aluminium

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

54 mins ago

Qatar Production-Cut News Boosts Prices; Overnight LME Aluminum and SHFE Aluminum Both Close Higher [SMM Aluminum Morning Meeting Minutes]

[SMM Aluminum Morning Meeting Minutes: Qatar Production-Cut News Provided a Boost; Overnight LME Aluminum and SHFE Aluminum Both Closed Higher] Overall, aluminum prices showed a trajectory of falling first and then rising around the Chinese New Year, and SHFE aluminum is expected to hold up well in the short term.

54 mins ago

55 mins ago

Overnight, cast aluminum alloy futures fluctuated and closed higher; spot cargo held up well [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: Overnight Cast Aluminum Alloy Futures Fluctuated and Closed Higher; Spot Cargo Held Up Well] Overnight, the cast aluminum alloy 2604 contract showed a fluctuating trend, dipping first and then rising. After the open, prices quickly fell to an intraday low of 22,765 yuan/mt, then bottomed out and rebounded, fluctuating upward. During the session, the tug-of-war between longs and shorts was intense, with prices repeatedly seesawing; toward the close, prices gradually moved higher, recouping most of the losses. It ultimately closed up 1.49% at 23,090 yuan/mt.

55 mins ago

13 hours ago

QatarEnergy to Suspend Production of Certain Downstream LNG Products

QatarEnergy announced in a news release on its official website that, after deciding to halt production of liquefied natural gas (LNG) and its related products, the company will also suspend production of certain downstream products within Qatar, specifically including urea, polymers, methanol, and aluminum.

13 hours ago