Energy Crisis may Drive Up the Export of Aluminium Plate/Sheet and Strip

SHANGHAI, Sep 29 (SMM) - According to customs data, China's aluminium plate/sheet and strip exports in August 2022 were 288,500 mt, down 21% on the month but up 11% on the year. The exports totalled 2.5908 million mt from January to August, up 41% year on year.

The final destination of China's aluminium plate/sheet and strip export changed little in August. The major importers include Mexico, South Korea, Vietnam, and the United States, Which imported 118,100 mt, accounting for 41% of the total export volume.

SMM believes that the month-on-month drop in aluminium plat/sheet and strip exports in August was caused by the downturn in the global economy and weaker consumption. However, the energy crisis in Europe has intensified recently, which will inevitably lead to the rise in the production costs of European aluminium plate/sheet and strip enterprises. In this scenario, enterprises may limit the production. Therefore, the overseas demand for China’s aluminium plate/sheet and strip may increase, boosting the export of aluminium plate/sheet and strip.