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Total export volume of aluminium wires and cables declined in March declined in March
2021-4-28
SHANGHAI, Apr 28 According to customs data, China exported around 10,600 mt of aluminium wires and cables in March 2021, down 4.1% month on month and down 61% year on year. The export value reached $27.374 million. China exported about 37,500 mt of aluminium wires and cables in the first quarter of 2021, down 32.7% from 2020, and down 24.9% from 2019 (aluminium wires and cables include two tariff codes 76141000 and 76149000, namely "uninsulated steel core aluminium stranded wire, cable, braid and similar products" and "other uninsulated aluminium stranded wire, cable, braid and similar products").
China's aluminium wires and cables were mainly exported to 62 countries and regions in March 2021. The main export countries included South Korea, Brazil, Vietnam and Cambodia. Compared with the domestic aluminium wires and cables export countries in January and February, there was a significant decrease, especially in the euro area.
Among them, the total export volume to South Korea stood at 1810.9 mt, accounting for 17% of the total export volume, ranking first. The total export volume to Brazil stood at 1757.6 mt, accounting for 16.5% of the total export volume. The total export volume to Vietnam stood at 1044.3 mt, accounting for 9.8% of the total export volume.
China’s aluminium wires and cables export provinces were mainly concentrated in Jiangsu, Hebei, Henan and other provinces and regions in March. From the perspective of export data, the export of Beijing, Shanghai, Fujian and other regions declined significantly in March, down 80-90% month on month. Export orders in Shandong, Zhejiang, Sichuan and other places recovered well. Among them, the total export volume of Jiangsu Province in March stood at 3,314 mt, accounting for 31.2%, ranking first in China.
Domestic aluminium wires and cables exports declined significantly year on year in the first quarter. March should have been a period of high overseas aluminium wires and cables demand. Operating rates of domestic aluminium wires and cables companies improved in March compared with January and February. On the other hand, the resumption of overseas projects with active restocking lifted up demand for domestic aluminium wires and cables. However, demand for overseas aluminium wires and cables fell in March. The main reason was that the domestic aluminium base prices remained high, the profitability of overseas orders narrowed and even appeared upside down, and the enthusiasm of enterprises for export fell sharply. Moreover, arrivals of European region were affected by the Suez Canal. China's aluminium wires and cables operating rates increased slightly from the previous month to 38.8% in March. The state grid order demand increased in April. Operating rates of domestic aluminium wires and cables companies are still expected to increase. According to SMM survey, there was still no significant increase in overseas orders. Companies were not much interested in locking orders, other orders with higher added value maintained cooperation, while overseas customers were also somewhat resistant to high prices, especially in developing countries such as Southeast Asia. It is expected that the domestic aluminium wires and cables export in April will still be less than expectations and the total amount will remain stable at around 10,000 mt.
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