December aluminium extrusion exports fell over 40% M-o-M, likely to remain weak in the short term

According to customs data, China's aluminium extrusion exports (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) in December 2024 totalled 74,100 tonnes, down 40.04 per cent M-o-M and 16.58 per cent Y-o-Y. The decline was mainly due to the Ministry of Finance's announcement on November 15 to cancel the aluminium semis export tax rebate policy starting December 1, leading to a rush to meet deadlines in November that overdrew subsequent export volumes.

Among export registration locations, the top three provinces in December were Guangdong, Shandong, and Jiangsu. Chongqing saw a surge in export volumes, while other provinces experienced significant declines.

For export destinations, Vietnam ranked first in December, accounting for 10 per cent of exports, followed by Israel at 8 per cent and the Philippines at 5 per cent.

In summary, the cancellation of the aluminium semis export tax rebate policy in December led to a rush in November, causing a significant pullback in December export volumes. Currently, SMM has learned that some companies, concerned about potential overseas tariff hikes, are still actively producing export orders, but the scale remains limited and cannot offset the overall downward trend in export volumes. January aluminium semis exports are expected to continue weakening MoM, and attention should be paid to changes in overseas aluminium semis tariffs.

Information source: https://news.metal.com/newscontent/103151486/December-Aluminum-Extrusion-Exports-Fell-Over-40-MoM-Likely-to-Remain-Weak-in-the-Short-Term-[SMM-Analysis]