Despite Standout Products, The Overall Output Of Aluminum Plate/Sheet, Strip And Foil Is Projected To See Negative Growth

SMM data indicates China's 2023 aluminum plate/sheet and strip production (including aluminum foil stock) is expected to hit about 12.3 million mt, down around 600,000 mt YoY. Total aluminum foil production is projected at about 4.5 million mt, down roughly 250,000 mt. Thus, China's 2023 aluminum plate/sheet, stripand foil production is almost certain to see negative growth. Despite a few products maintaining positive growth, they can't offset demand shortfall due to the global economic downturn.

In 2023, production of can body stock was 1.6 million mt and can lid stock was 460,000 mt, both significantly down. However, due to the push of the new energy industry, brazing materials and battery aluminum foil production saw substantial growth. Also, due to strong domestic real estate performance and global hot weather, air conditioning aluminum foil production could surge to 1.04 million mt.

Most aluminum plate/sheet, stripand foil products' production in 2023 was projected to be lower than 2022 estimates and early 2023 forecasts. "Lack of orders, fierce industry competition, and production cuts to preserve profits" emerged as the 2023 aluminum plate/sheet and foil market's main trend.