China's exports of unwrought aluminium and aluminium semis rose 7.7% MoM in September amid lower SHFE/LME price ratio and pre-holiday restocking

SHANGHAI, Oct 19 (SMM) – China exported 426,000 mt of unwrought aluminium and aluminium semis in September, up 7.7% month on month and down 2.1% year on year, according to customs data. Exports from January to September totalled 3.56 million mt, down 18.6% from a year ago.

Slightly lower SHFE/LME aluminium price ratio and restocking by overseas buyers ahead of the long Chinese National Day holidays contributed to the month-on-month increase. However, exports continued to decline on a year-on-year basis as COVID-19 hurt overseas consumption and as unwrought aluminium alloy, which accounts for a big share of unwrought aluminium and aluminium semis, shifted from net exports to net imports this year due to import restrictions on aluminium scrap.   

Exports are unlikely to increase significantly in October, in light of possible resurgence of COVID-19 overseas and increasing anti-dumping measures.

China's exports of unwrought aluminium and aluminium semis