August Aluminum Extrusion Exports Increased YoY and MoM [SMM Analysis]

According to customs data, in August 2024, China's aluminum extrusion exports (HS code: 76041010, 76041090, 76042100, 76042910, 76042990) reached 99,100 mt, up 9.85% MoM and 7.69% YoY.

The top three provinces exporting aluminum extrusion in August remained Guangdong, Shandong, and Jiangsu. The SMM survey indicates that some enterprises in Shandong received orders for construction materials like balcony railings, which are expected to boost exports in September and October.

Regarding export destinations, exports to India ranked first in August, accounting for 7.63% of the total, exports to Vietnam ranked second at 7.14%, and South Africa third at 5.54%.

Overall, LME outperforming SHFE favored domestic producers in expanding exports. Despite the narrowing price spread, overseas end-users continued to increase purchases to avoid future anti-dumping measures. Additionally, recent SMM surveys reveal that domestic aluminum processing enterprises received new overseas orders, suggesting that exports will maintain YoY and MoM growth in September.