Exports of unwrought aluminium, semis shrink in Jul

SHANGHAI, Aug 12 (SMM) – China's exports of unwrought aluminium and aluminium products stood at 487,000 mt in July, down 6.17% from July 2018 and 4.51% from June, showed data from China Customs released on August 8.

This brought exports in the first seven months of the year to 3.47 million mt, with a year-over-year increase of 7.2%.

Exports declined from a year ago in July, marking the second month of a year-on-year slide this year, lowered by the relatively high price ratio of SHFE aluminium to its LME counterpart, the recovery of the Chinese yuan from June, and front-loading in May-June.

The recent weakening of yuan to below 7 to the dollar is expected to boost aluminium exports in August.