Uptrend seen in China’s aluminium wire and cable export orders likely to offset year-end decline; SMM projects 4% growth
China’s aluminium wire and cable exports recovered in October 2024, marking a month-on-month surge of 53.8 per cent and a year-on-year increase of 13.64 per cent. However, the monthly uptick in October was not enough to counter the sluggish performance throughout the year-to-date, attributed to tight domestic end-user sector demand, particularly from the building and construction sector.
Image Source: Made-in-China
According to the Shanghai Metals Market survey, the export volume in October was 14,300 tonnes versus 9,300 tonnes in September, generating a value of $41.5 million compared to $28.06 million. Thus, the export value also demonstrated M-o-M hike of 47.9 per cent.
Specifically, exports of steel-core aluminium-stranded wire and similar products were 8,480 tonnes, up 82 per cent M-o-M. In comparison, exports of aluminium-stranded wire and similar products reached 5,831 tonnes, up 23 per cent M-o-M.
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