According to customs data, in June 2024, the export volume of domestic aluminium extrusion (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) was 97,500 mt, up 6.47% MoM and up 9.14% YoY. From January to June 2024, the cumulative export volume of aluminium extrusion reached 520,100 mt, up 11.61% YoY.
Among the export registration locations, Guangdong continued to dominate in June, accounting for 53.28%, followed by Shandong (12.69%) and Jiangsu (7.07%). The trend of stronger overseas and weaker domestic aluminum prices continued, and overall aluminum semis exports maintained a positive growth trend. Additionally, a new round of US sanctions on China may be implemented in the fourth quarter, prompting some companies to stock up before the sanctions take effect, which improved export orders for companies in Liaoning and Hunan.
Among export countries, Vietnam remained the top exporter in June, accounting for 7.21% of exports; the Philippines ranked second with 4.83%; and Australia was third with 4.81%.
Overall, the price spread between domestic and overseas markets continued to show a strong overseas and weak domestic trend in June. Coupled with rising overseas premiums, domestic aluminum semis export profits increased, benefiting domestic producers in expanding their export layout. Additionally, recent overseas trade barriers have intensified, but their implementation will take some time. Therefore, overseas end-users have taken measures to increase purchases before further anti-dumping measures are imposed, driving the growth of domestic aluminum semis exports. It is expected that aluminum extrusion exports will continue to grow in July.
