Exports of Aluminium Foil to Remain High Intrayear

SHANGHAI, Sep 27 (SMM) - According to customs data, China exported 115,400 mt of aluminium foil in August, a month-on-month increase of 19.28% and year-on-year increase of 14.08%.

By country, Thailand was still the largest importer of aluminium foil in August, with an export volume of 12,500 mt, accounting for 10.86%. The top six importers include United Arab Emirates, Mexico, India, Japan, Indonesia, and South Korea, each of which accounts for over 5% of the total. India only imported 6,600 mt, accounting for 5.7%. 

The exports to EU totalled 9,000 mt in August, accounting for 7.77%. The European Union originally planned to impose import tariffs on aluminium rolled products imported from China from October, then decided to suspend these tariffs until July after receiving complaints. The volume and proportion of aluminium foil exported to the EU in the next few months is unlikely to fall sharply amid the bullish news and rigid demand. 

Customers in Europe and America gradually restock cargoes approaching the Christmas. This freight cycle is significantly longer than in previous years, and orders from European and American customers are expected to come earlier. Aluminium foil exports are expected to remain bullish in September and December.