According to China customs data, the country's aluminium extrusion exports (HS code: 76041010, 76041090, 76042100, 76042910, 76042990) gained month-on-month in August 2024 after facing a significant decline in the previous month. Growing by 9.85 per cent over a month, China's exports stood at 99,100 tonnes in August versus 90,300 tonnes in July, dramatically down M-o-M by 74.8 per cent.
Year-on-year, China's export volume in August 2024 increased by 7.69 per cent, attributed to new orders for extruded construction materials like balcony railings. In the previous month, China's customs department found a drastic fall in export orders due to anti-dumping measures imposed by the United States.
Among the export provinces, Guangdong, Shandong, and Jiangsu remained the top three, with Shandong receiving the maximum number of new orders for extruded construction materials. This is expected to boost exports further in September and October.
Coming to export destinations, India ranked first in August, replacing Vietnam. According to the customs data, India accounted for 7.63 per cent of China's total extrusion exports in the said month, compared to a 5.3 per cent contribution in July. Vietnam ranked second, accounting for 7.14 per cent versus 6.06 per cent in July, followed by South Africa ranking third with 5.54 per cent of contribution. This clearly suggests a change in China's extrusion export destinations in August, with India emerging first and South Africa joining the list.
LME outperforming SHFE favoured China's increased export volume. In addition, the possibility of tariff implementation on Chinese extruded products led overseas end-user companies to place new orders.
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