Uptrend seen in China’s aluminium wire and cable export orders likely to offset year-end decline; SMM projects 4% growth
China’s aluminium wire and cable exports recovered in October 2024, marking a month-on-month surge of 53.8 per cent and a year-on-year increase of 13.64 per cent. However, the monthly uptick in October was not enough to counter the sluggish performance throughout the year-to-date, attributed to tight domestic end-user sector demand, particularly from the building and construction sector.
According to the Shanghai Metals Market survey, the export volume in October was 14,300 tonnes versus 9,300 tonnes in September, generating a value of $41.5 million compared to $28.06 million. Thus, the export value also demonstrated M-o-M hike of 47.9 per cent.
Specifically, exports of steel-core aluminium-stranded wire and similar products were 8,480 tonnes, up 82 per cent M-o-M. In comparison, exports of aluminium-stranded wire and similar products reached 5,831 tonnes, up 23 per cent M-o-M.
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