China exported 395,400 mt of unwrought aluminium and aluminium semis in August

The fall of aluminium prices stimulated processing enterprises to restock. Exports are expected to rise.

SHFE nonferrous metals broadly rose for the most part on Wednesday June 23 with investors awaiting key Purchasing Managers' Indexes from the euro zone.

SHFE nonferrous metals broadly closed higher across the board on Tuesday June 22, triggered by the Fed's updated inflation projections and a shortening of its interest rate hike schedule.

SHFE nonferrous metals broadly fell on Monday June 21, following jitters in global markets over the more hawkish tone from the US Federal Reserve last week.

LME base metals closed mixed in the overnight trading last Friday, as the expanding inflation and rising US dollar weighed on the market, but short supply still supported the prices. SHFE metals basically went down.

LME and SHFE non ferrous metals all declined in yesterday’s overnight trading as Fed officials implied to raise interest rates in advance and increased the excess reserve ratio.

LME base metals all fell in the overnight trading yesterday, as US dollar index went up slightly, and the plummeting US May retail sales brought negative sentiments to the market. Meanwhile, SHFE metals closed mixed amid the policy control.

China exported 426,000 mt of unwrought aluminium and aluminium semis in September, up 7.7% month on month and down 2.1% year on year, according to customs data. Exports from January to September totalled 3.56 million mt, down 18.6% from a year ago.

China imported 429,464 mt of unwrought aluminium and aluminium semis in August. Imports rose sharply 724% year on year and 9.8% month on month, the highest since April 2009, according to customs data.

China’s imports of unwrought aluminium and aluminium semis in July exceeded exports for the first time since 2009 as it has successfully contained the coronavirus outbreak earlier than other countries. China imported 391,237 mt of unwrought aluminium and aluminium semis in July, and exported 373,400 mt, according to customs data.