Overseas Demand Has Not Yet Recovered, Aluminium Plate/Sheet and Strip Exports Lack Support [SMM Analysis]

Published: Aug 23, 2024 10:34

Source: SMM

Save

According to customs data, China's aluminium plate/sheet and strip exports in July 2024 were 300,800 mt, up 32% YoY, but down 8% MoM.

By export destination, the top 5 destinations for China's aluminium plate/sheet and strip exports in July were Mexico, Vietnam, South Korea, Canada, and Thailand, all of which are major export destinations for aluminium plate/sheet and strip. However, the US was not among the top 10 export destinations. In July, China exported approximately 181,100 mt of aluminium plate/sheet and strip to the top 10 export destinations, accounting for about 60.19% of the total export volume.

Although China's aluminium plate/sheet and strip exports have been at a relatively high level in recent months, an SMM survey found that some of the exports were due to companies shipping before impending overseas tax increases, rather than a sustained increase in overseas end-user demand. Coupled with an increasingly severe overseas trade environment and successive tax increase policies, there is a risk of a decline in future aluminium plate/sheet and strip export volumes.

Import/Export

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Geopolitical Tensions Disrupt LPG, Natural Gas Supply to India, Impacting Aluminum Production

[SMM Aluminum Express News] Geopolitical tensions in West Asia have disrupted energy flows through the Strait of Hormuz, tightening LPG and natural gas supply to India. With gas diverted to households, according to the Aluminium Extrusion Manufacturers Association of India industrial supply has been cut by 50–80%, severely impacting energy-intensive aluminum extrusion. Around 25 plants have been shut down while ~200 operate at reduced rates, dragging monthly output from ~70,000 mt to ~45,000 mt. The supply-driven disruption is tightening downstream availability and supporting aluminum product premiums.

2 hours ago

4 hours ago

SHFE Cast Aluminum Alloy Warrants Drop to 44,991 mt, Down 2,741 mt from Previous Day

[SMM Flash News] SHFE data showed that as of March 23, the total registered volume of cast aluminum alloy warrants was 44,991 mt, down 2,741 mt from the previous trading day. By region, the total registered volume was Shanghai (3,177 mt, down 515 mt), Guangdong (17,467 mt, down 453 mt), Jiangsu (5,022 mt, down 453 mt), Zhejiang (14,155 mt, down 1,079 mt), Chongqing (3,843 mt, down 91 mt), and Sichuan (1,327 mt, down 150 mt). The English translation of the above text is:

4 hours ago

Secondary Aluminum Alloy ADC12 Market Weakens, Prices Drop by 200-400 Yuan/mt Amid Bearish Sentiment

[SMM Daily Review of Aluminum Alloy] The secondary aluminum alloy ADC12 market continued to weaken today, with mainstream enterprises generally cutting offers by 200–400 yuan/mt. The weaker prices were mainly dragged down by larger declines in aluminum prices and futures, with the cost center moving lower in tandem. In addition, some enterprises had shown relatively strong bullish sentiment earlier and lagged in the pace of price adjustments, leading to a catch-up decline in the market today. In terms of market sentiment, secondary aluminum enterprises turned cautious and bearish on the short-term aluminum price trend, focusing mainly on active shipments. Demand side, support remained weak, downstream procurement was maintained only for rigid demand, wait-and-see sentiment was strong, and

4 hours ago