Aluminium foil exports rebound in May

SHANGHAI, Jun 28 (SMM) – China's export of aluminium foil, under five HS codes of eight digits, gained 21.57% on the month and stood at 125,000 mt in May, showed the latest data from China Customs. 

On a yearly basis, exports stood 11.75% higher in May, after shrank 4.53% in April. 

India, Thailand, South Korea, Saudi Arabia, and the United Arab Emirates remained the top five export destinations of Chinese aluminium foil last month, accounting for 64.44% of the total export volumes.

Improved overseas orders in March-April accounted for the higher exports, given a delivery period of 20-60 days. Both domestic and overseas purchases recovered in March, as evidenced by a pickup in operating rates across Chinese producers of aluminium foil that month. 

A lower yuan also grew exports in May. Customs data showed that exports of a range of aluminium products including sheet/plate, strip, bars, rods, profiles expanded last month.