In June, Chinese aluminium extrusion exports, including HS codes 76041010, 76041090, 76042100, 76042910, and 76042990, amounted to 97,500 tonnes, up by 6.47 per cent month-on-month and 9.14 per cent year-on-year.
Among the top sources of Chinese aluminium extrusion exports in July, Guangong, Shandong, and Jiangsu led the list. The sharp month-on-month decrease in export volume is largely attributed to anti-dumping measures imposed by the United States, resulting in a significant drop in export orders. Some Chinese companies even reported zero export orders from the United States in July 2024.
The major export destinations were Vietnam, Israel, and India. Vietnam remained the top, accounting for 6.06 per cent of the total Chinese export volume, followed by Israel ranking second with 5.68 per cent of contribution to Chinese exports and India the third with 5.30 per cent.
Besides the anti-dumping factor, other reasons that contributed to the M-o-M fall in Chinese extrusion exports were the narrowing of LME and SHFE price spread, causing less enthusiasm for overseas companies to place orders for Chinese goods, coupled with the traditional off-season.
SMM expects the impact of anti-dumping measures to persist on long-term orders from China, but for the short-term, overseas end-users are likely to maintain large procurements. Therefore, the export volume in August is expected to remain stable and maintain a Y-o-Y growth trend.
Aluminium stocks at Japanese ports drop 9% Y-o-Y in August, highlighting ongoing supply issues in Asia
