China’s aluminium (unwrought and products) exports dip 6% YoY in July
China’s exports of unwrought aluminium and aluminium products dipped 6.17% year-on-year in July, according to China customs data released on August 8.
China exported a total of 487,000 tonnes of unwrought aluminium and aluminium products last month. Aluminium exports declined by 3.8 per cent month-on-month, customs data showed. China had exported 506,000 tonnes in June, down 30,000 tonnes from May.
Total exports stood 7.2% higher in the first seven months of 2019. Unwrought aluminium and aluminium products export reached 3.47 million tonnes in the mentioned period.
The YoY decline in export was due to the high price ratio of SHFE aluminium to its LME counterpart, the recovery of the Chinese yuan from June, and front-loading in May-June. A weaker yuan could help to boost aluminium exports this month.
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