China's exports of unwrought aluminium and aluminium semis rose 7.7% MoM in September amid lower SHFE/LME price ratio and pre-holiday restocking

Published: Oct 19, 2020 13:28

Save

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.

SHANGHAI, Oct 19 (SMM) – 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.

Slightly lower SHFE/LME aluminium price ratio and restocking by overseas buyers ahead of the long Chinese National Day holidays contributed to the month-on-month increase. However, exports continued to decline on a year-on-year basis as COVID-19 hurt overseas consumption and as unwrought aluminium alloy, which accounts for a big share of unwrought aluminium and aluminium semis, shifted from net exports to net imports this year due to import restrictions on aluminium scrap.

Exports are unlikely to increase significantly in October, in light of possible resurgence of COVID-19 overseas and increasing anti-dumping measures.

China's exports of unwrought aluminium and aluminium semis

Aluminium semis Exports Unwrought 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

41 mins ago

Middle East Geopolitical Risks Ease Significantly; Aluminum Prices Expected to Hover at Highs in the Short Term [SMM Aluminum Morning Meeting Minutes]

[SMM Aluminum Morning Meeting Minutes: Geopolitical Risks in the Middle East Cool Significantly; Aluminum Prices to Fluctuate at Highs in the Short Term] Overall, from a macro perspective, easing geopolitical risks and the continued buildup of domestic social inventory have created bearish pressure on aluminum prices. However, the geopolitical situation in the Middle East remains unclear; if the conflict persists, expectations for a tightening of global aluminum supply are strong, and aluminum prices still have solid upward momentum. In the short term, aluminum prices are still expected to hold up well.

41 mins ago

52 mins ago

Primary Aluminum Drove a Sharp Rally in Alloys, While the Raw Material Side Continued to Strengthen [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: Prices Pull Back as Aluminum Scrap Holders Are Reluctant to Sell; Overall Market Trading Remains Muted] Yesterday, the SMM ADC12 price rose by 500 yuan/mt, with the center of market quotations moving up markedly. Most producers’ price adjustments were concentrated in the 500–600 yuan/mt range. Recently, raw material prices have continued to strengthen, and the cost side has risen quickly, providing a clear lift to enterprise quotations. However, downstream demand has been relatively steady. Most enterprises reported that orders and inquiry activity were generally average, and downstream purchasing remains mainly restocking on an as-needed basis. Supported by cost-driven momentum and market expectations, enterprises have shown a clear willingness to raise prices. In the short term, against the backdrop of cost support and mild supply release, ADC12 prices are expected to hold up well. The medium-term trend will still depend on the recovery of end-use consumption. If die-casting industry orders increase significantly, the price center is expected to move up further; if demand recovery falls short of expectations, coupled with a continued rise in operating rates on the supply side, prices will shift from elevated levels into rangebound consolidation.

52 mins ago

16 hours ago

Secondary Aluminum Operating Rate Plunged in February March Recovery Was Set to Rebound Significantly [SMM Analysis]

[SMM Analysis]Secondary Aluminum Operating Rate Plunged in February March Recovery Was Set to Rebound Significantly

16 hours ago