China Unwrought Aluminium and Aluminium Semis Exports Largely Unchanged in Apr Partly due to COVID

SHANGHAI, May 9 (SMM) - According to the latest data from the General Administration of Customs, unwrought aluminium and aluminium semis exports totalled about 596,900 mt in April 2022, an increase of 0.42% MoM and up 36.49% YoY. In January-April, unwrought aluminium and aluminium semis exports stood at 2,225,200 mt, up 29.2% from January-April last year. In April, SHFE/LME aluminium price ratio was repaired to some extent, and domestic aluminum export profits narrowed than before. Some of the domestic aluminum export enterprises were impacted by the domestic pandemic and poor transport efficiency. Hence the total amount of aluminum exports in April chain did not increase significantly. Looking into May, domestic and overseas aluminium prices retreated sharply, and SHFE/LME price ratio keeps rebounding. But the domestic aluminum exports still maintain a relatively substantial profit. And with the improvement of domestic pandemic, port logistics is greatly restored. It is expected that in May the domestic unwrought aluminium and aluminium exports will maintain a 35% year-on-year increase.