Significant Rebound! Aluminum Wire and Cable Exports in December Up Over 50% MoM [SMM Analysis]

January 24, 2025—

According to customs data, China's aluminum wire and cable exports reached 26,700 mt in December 2024, marking a significant rebound at year-end, up 59% MoM from November and up 57% YoY from November 2023. For January-December, total domestic aluminum wire and cable exports amounted to 195,300 mt, up 1.83% YoY compared to the full-year total of 191,700 mt in 2023. (The above data is based on codes 76141000 and 76149000.)

Export Categories: By export category, steel-core aluminum stranded wire and similar products reached 122,500 mt in 2024, up 18% YoY from 2023, while aluminum stranded wire and similar products recorded only 72,700 mt, down 17% YoY. The continued growth in aluminum wire and cable exports in 2024 was primarily driven by demand from overseas power grid construction.

Export Destinations: In 2024, exports were distributed across 145 countries, with Ghana in Africa ranking first, accounting for 15,500 mt or 7.97% of the annual total. The Philippines and Cambodia in Southeast Asia ranked second and third, with annual export volumes of 10,100 mt and 9,500 mt, respectively. While aluminum wire and cable were exported to numerous countries, the main destinations were developing countries in Africa, Southeast Asia, and South America, where demand for power grid construction supported domestic aluminum wire and cable exports.

Export Origins: Currently, Jiangsu remains China's largest exporting province, with an annual export volume of 78,700 mt in 2024, accounting for 40% of the total. Henan followed with 37,200 mt, accounting for 19%, and Beijing ranked third with 23,000 mt, accounting for 12%.
 

SMM Commentary: The performance of aluminum wire and cable in 2024 was full of ups and downs. At the beginning of the year, export volumes were far ahead, but as domestic delivery pressures mounted and operating capacity was constrained, export volumes declined continuously. However, by year-end, the tight domestic delivery phase had passed, and export volumes rebounded after hitting bottom. In the final month of 2024, export volumes made a remarkable comeback, achieving a YoY increase of 1.83%. Looking ahead, overseas construction demand shows no signs of slowing, and domestic production capacity maintains a certain quality advantage. Based on companies' production schedules, aluminum wire and cable exports are expected to fluctuate at highs in January-February, with 2025 export volumes likely to surpass the 200,000 mt milestone.