China saw M-o-M dip in unwrought aluminium and aluminium products exports in August
According to Shanghai Metals Market calculations based on Customs data, China’s exports of unwrought aluminium and aluminium products in August dropped by 4.31 per cent month-on-month to come in at 466,000 tonnes.
August saw a high ratio of SHFE aluminium price to its LME counterpart, which squeezed margins on exports. This, along with trade barriers such as anti-dumping duties in some countries, discouraged Chinese aluminium producers from pouring their cargoes to markets overseas.
Previous strong exports, meanwhile, affected near-by demand, with three months earlier this year seeing a monthly export volume of above 510,000 tonnes.
In the first eight months, China’s exports of unwrought aluminium and aluminium products thus stood at 3.94 million tonnes, up 5 per cent from the same period last year. This year-on-year growth indicates an improvement in overseas demand.
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