China’s aluminium extrusion exports maintain a growing trend in H1 driven by higher overseas premiums

According to the Shanghai Metals Market survey, China’s aluminium extrusion export volume, including HS codes 76041010, 76041090, 76042100, 76042910, and 76042990, amounted to 97,500 tonnes in June 2024, reflecting an increase of 6.47 per cent month-on-month and 9.14 per cent year-on-year.

From January to June 2024, China’s aluminium extrusion export totalled 520,100 tonnes, up 11.61 per cent year-on-year. This increase is attributed to stronger overseas aluminium prices compared to domestic metals. Additionally, as the implementation of US sanctions on Chinese aluminium-extruded products is nearing, scheduled for Q4 2024, many companies are stocking up in advance, pushing up aluminium extrusion export orders in Liaoning and Hunan provinces.

Among the top Chinese aluminium extrusion exporting provinces, Guangdong, Shandong, and Jiangsu topped the list, accounting for 53.28 per cent, 12.69 per cent, and 7.07 per cent, respectively. Among the export destinations, Vietnam led the way, accounting for 7.21 per cent of China’s total exports, followed by the Philippines with 4.83 per cent, and Australia with 4.81 per cent.

Due to rising overseas premiums, Chinese extruded aluminium companies made higher profits, which in turn helped them expand their export layout. Moreover, the end-user companies from the United States ramped up purchases from China ahead of the new anti-dumping measures on Chinese aluminium, driving the growth of aluminium extrusion exports.

As far as primary aluminium is concerned, the export volume in June stood at approximately 7,000 tonnes, registering a month-on-month increase of 2.7 per cent but a year-on-year plunge of 78.8 per cent.

From January to June, the export volume totalled 28,200 tonnes, down by 50.6 per cent year-on-year.

Sourced from SMM under the content exchange agreement