China’s aluminium foil exports grow in October; Uptick to continue to avoid increased costs for export tax rebate cancellation

According to China Customs data, the country’s aluminium foil exports in October 2024 saw a month-on-month increase of 8 per cent and a year-on-year hike of 27 per cent, totalling 134,200 tonnes. The average cost of China’s aluminium foil export was $3,625 per tonne for the said month.

Image Source: Nantong Hengjin Composite Materials Co., Ltd

Among the export destinations, Thailand and India remained the top two, followed by the United Arab Emirates, Indonesia, Mexico, and South Korea. To the top ten destinations, China exported 76,200 tonnes of aluminium foil, which accounted for 56.78 per cent of the total exports in October.

Thailand, the highest importer of Chinese aluminium foil, secured 14,200 tonnes in October at an average cost of $3,277 per tonne. Next, India and Indonesia imported 10,700 tonnes and 8,600 tonnes, representing 7.98 per cent and 6.43 per cent of China’s total foil exports in October. The import costs involved were $3,461 per tonne and $2,930 per tonne, respectively.

Saudi Arabia and the United Arab Emirates, the fourth and the fifth largest importers, hauled 7,100 tonnes each at $2,930 per tonne and $2,876 per tonne. The remaining five among top ten importers were Mexico, South Korea, Malaysia, Vietnam, and Japan. Together they imported 28,500 tonnes, accounting for 21.24 per cent of China’s foil exports during the period under review.

SMM believes China’s aluminium foil export volume will amount higher in November on account of export tax rebate cancellation as it could stimulate many foil enterprises to ship in advance to avoid costs. However, with the effect of trade policy from December 1, overseas foil orders will inevitably shrink, leading to a decline in aluminium foil export volumes.

But, despite the loss of some export orders, China’s foil, plate/sheet and strip enterprises will have monetary gain. To know how, read https://bitly.cx/E7VH.