December Unwrought Aluminum and Aluminum Semis Exports Pulled Back as Expected; Short-Term Export Volume Unlikely to Improve [SMM Analysis]

》View SMM Aluminum Product Prices, Data, and Market Analysis

》Subscribe to Access SMM Historical Spot Prices for Metals

SMM, January 13, 2025:

According to the latest data from the General Administration of Customs, China's export volume of unwrought aluminum and aluminum semis reached 506,000 mt in December 2024, down 24.36% MoM but up 3.2% YoY. The total export volume for 2024 amounted to 6.665 million mt, up 17.4% YoY. In December, affected by the cancellation of aluminum semis export tax rebates, enterprises rushed to meet deadlines in November, leading to a significant pullback in December export volumes. Currently, SMM has learned that some enterprises, concerned about potential overseas tariff hikes, are still actively producing export orders, but the scale remains limited, failing to offset the overall downward trend in export volumes. It is expected that aluminum semis exports will continue to weaken MoM in January, and attention should be paid to changes in overseas aluminum semis tariffs.

》Click to Access the SMM Aluminum Industry Chain Database