China aluminum semis exports rise to 340,000 mt in Sept. 2014

China exported 340,000 mt of aluminum semis in September, up 25.93% YoY and 6.25% MoM, customs data showed. Exports during January-September totaled 2.52 million mt, also up 9.57%.

Extrusion exports soared 93.02% YoY to 96,000 mt in September. Exports of plate/sheet and strip also increased 9.21% YoY to 157,000 mt. Foil exports were up 15.65% from a year ago to 72,000 mt.

Low SHFE/LME aluminum price ratio and weak Chinese yuan allowed Chinese processors and traders to lock in a sizable number of export contracts in Q2 and Q3. As a result, export volumes increased in September and will continue to grow in October. But export orders have dropped recently as Chinese yuan has strengthened. As such, China’s aluminum semis exports may drop slightly for the rest of the year.

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