SHANGHAI, Dec 2 (SMM) - According to China Customs, China's aluminium foil exports in October, 2021 totalled 112,200 mt, up 2.95% MoM and up 7.38% YoY.
In October, China exported 112,300 mt of aluminium foil to India, accounting for 10% of China's total aluminium foil exports. And India thus became the largest final destination of aluminium foil in the month.
Domestically speaking, the impact of power rationing on local aluminium foil exports in Jiangsu and Zhejiang in September did not seem to be drastic. Jiangsu exported as much as 28,900 mt in the month, and became the largest aluminium foil exporting province, while Zhejiang exported 25,400 mt and ranked second. Shandong, Henan and Shanghai provinces also exported more than 10,000 mt of aluminium foil respectively.
The market generally believes that, the foreign market has been in serious shortage of supply, and the exports in October to Western countries were mainly for stockpiling during Christmas holiday. In other words, foreign customers have strong demand and are willing to increase their purchasing prices to secure supplies, so domestic companies generally chose to prioritise the supply of overseas customers though the production in Jiangsu, Zhejiang, and Henan has been limited by power rationing in August-September. The demand for aluminium foil for packaging has always been very strong under the influence of the COVID, and it is expected that the export volume of aluminium foil will remain at a high level in the future.
