October Aluminum Extrusion Exports Decline Again; November May See Slight MoM Increase Due to Rush Orders [SMM Analysis]

SMM, November 21: According to customs data, China's aluminum extrusion exports (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) in October 2024 amounted to 88,100 mt, down 6.61% MoM, but up 14.18% YoY. Among the top ten provinces for export registration in October, Guangdong, Shandong, and Jiangsu remained the leaders, with the first two showing a significant decline in export volumes. In terms of export destinations, Vietnam ranked first in September, accounting for 8.85% of the total export volume, followed by Malaysia at 5.45% and Australia at 5.29%. Overall, the intensified anti-dumping issues led to a decrease in export orders, causing the October export volume to weaken MoM. On November 15, news of the cancellation of aluminum semis export tax rebates prompted extrusion plants to rush production to meet deadlines, potentially driving up November's aluminum extrusion export volume. However, according to the SMM survey, customized products are difficult to complete in the short term, and companies may incur losses. Additionally, with the subsequent 13% tax cost increase, processing plants are negotiating with overseas clients. SMM will continue to monitor the progress.