China: Aluminium exports fall nearly 5%, m-o-m, in August

The world's largest base metals producer, China, has recently released non-ferrous recyclable commodity export figures for August 2022, which have inched down by 4.7% over the previous month, as per the customs data.

During the month, China's aluminium exports were recorded at 656,678 t including ore, scrap, semi-finished, finished long and finished flat products, down by 4.7% from 688,942 t in July.

Break-up of exports

Finished flats export volumes were the highest at 429,772 t, down 17.53% m-o-m, followed by finished longs at 84,456 t (down 12.86%), semi-finished at 26,211 t (down 23%), and ores at 116,155 t, up a massive 216.59% on the month.

The finished flats segment comprised 65% of overall exports followed by finished longs at 13%, semi-finished at 4% and ores at 18%.

Country-wise shipments

In August, Mexico remained the most preferred export destination for China with total shipments at 53,049 t, down by 15%. Imports by South Korea stood at 37,470 t, down 16%, and Thailand at 29,844 t, down 30%. On the other hand, shipments to the Vietnam and the US were recorded at 29,641 t and 28,288 t, down 19% and 18%, respectively.

Meanwhile, India's imports were substantially lower in August, falling 20% m-o-m to 22,502 t as against 27,972 t in July. India's share of China's total exports was around 3%, as per customs data.

Factors behind China's lower export volumes in August were weak imports by the top three nations: Mexico, South Korea and Thailand.

South Korea suffered due to a slow automobile industry as monthly auto sales fell by around 14% to 105,702 units including all segments (PCs, buses, trucks, and SPVs).

Thailand's domestic automobile sales were recorded at 68,208 units, while exports stood at 73,325 units out of total production of 171,731 units.

Notably, Mexico's aluminium fell to a 3-month low of 0.305 mnt in August, as per International Aluminium Institute (IAI) data due to limited economic activities. However, an increase in automobile sales by around 10% in August was observed compared to the previous month.