28 MARCH 2016Shanghai Metal Market
China aluminium semis exports unlikely to rebound significantly in March
Edited by : AL CIRCLE
1 min read
A slump in China’s aluminium semis exports in February sparked concerns over export volumes in March. SMM sees any potential rebound to be marginal.
Higher SHFE/LME aluminium price ratio, which climbed above 7.6 in March, will be the main constraint on aluminium semis outflows, SMM explained.
Some Chinese traders told SMM that they will cut exports against unfavorable price ratio. Large aluminium processors reported stable export orders, though, SMM learns, since those producers have signed long-term contracts with overseas buyers.
Customs data showed China’s aluminium semis exports totaled 260,000 tonnes in February, down 34.1 per cent from a year ago and down from January’s 330,000 tonnes. The Chinese New Year holiday was mainly blamed for the decline.
Higher SHFE/LME aluminium price ratio, which climbed above 7.6 in March, will be the main constraint on aluminium semis outflows, SMM explained.
Some Chinese traders told SMM that they will cut exports against unfavorable price ratio. Large aluminium processors reported stable export orders, though, SMM learns, since those producers have signed long-term contracts with overseas buyers.
Customs data showed China’s aluminium semis exports totaled 260,000 tonnes in February, down 34.1 per cent from a year ago and down from January’s 330,000 tonnes. The Chinese New Year holiday was mainly blamed for the decline.
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