China aluminum product exports hit record highs

According to report of China’s Customs, China’s exported 340 thousand tons of aluminum products in May soar substantially by 73.4% YoY and it increased by 30.8% from April. Also it hit the record highs.

It’s analyzed that as market participants forecasted that the Chinese government would cut export rebates for aluminum products, it has rushed to purchase. As a result it pushed up the country’s exports of aluminum products.

Furthermore, it’s expected that the exports of aluminum products would break 400,000 tonnes in June due to rising orders.

However, industry sources indicated that China’s exports of aluminum production would decline in the H2 of this year once the export rebate policy is confirmed.