China’s aluminium exports fall for 3 months

SHANGHAI, Sep 27 (SMM) – China’s exports of unwrought aluminium and aluminium products shrank in August for a third straight month, slipping 4.31% from July to 466,000 mt, showed SMM calculations based on Customs data.

August saw a high ratio of SHFE aluminium price to its LME counterpart, which would squeeze margins on exports. This, combined with trade barriers such as anti-dumping duties at some countries, deterred Chinese aluminium producers from pouring their cargoes to markets overseas.

Previous strong exports, meanwhile, dented near-by demand, with three months earlier this year seeing a monthly export volume of above 510,000 mt.

For the first eight months of the year, China’s exports of unwrought aluminium and aluminium products amounted to 3.94 million mt, up 5% from the same period a year earlier, pointing to an improvement in demand overseas.