China’s aluminium foil exports in May’24 trend up 7% M-o-M, with India, Mexico and Indonesia as top destinations

According to the Shanghai Metals Market survey, China’s aluminium foil exports in May 2024 amounted to 130,100 tonnes, registering a month-on-month increase of 7 per cent from 121,600 tonnes. The May export volume also recorded an annual rise of 15 per cent.

Among export destinations, India, Mexico, and Indonesia were the top three in May, followed by Thailand. To the top ten destinations, China exported 78,100 tonnes of aluminium foil, up by 6.26 per cent from 73,500 tonnes in April.

China’s aluminium foil exports to the top ten destinations accounted for 60 per cent of the country’s total foil exports.

For June and July, China has already received most of the orders for aluminium foil exports and put them into production. According to SMM estimation based on companies’ feedback, aluminium foil export volume is not likely to witness much fluctuation, except for a slight M-o-M variation or an annual increase.

However, for the long term, some aluminium foil producers have reported insufficient growth in monthly overseas orders, with some months even showing signs of decline. In fact, amid unpredictable global markets and ongoing trade frictions, aluminium foil exports in August and beyond are expected to face a potential decline.

According to AL Circle's report: "Aluminium Foil and its End Uses Current Trends and Forecast till 2028”, the world's aluminium foil usage is expected to increase to 7.2 million tonnes from 6.1 million tonnes in 2023, with China estimated to account for 50 per cent of the global usage in 2028. Aluminium foil demand in Rest of Asia pacific region, which encompasses Japan and several prominent emerging nations like India, South Korea, Thailand, and Indonesia, is expected to grow at around 4% per annum during the next five years. Indian aluminium foil usage is expected grow at about 5.9% during this period.