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China's steel and aluminum exports continued to increase in April this year

  • Author:Dong Xing
  • Release on:2018-05-11
Reuters reported on May 8th that the General Administration of Customs of China released data on the same day that China's steel and aluminum exports(3003 aluminum coil on sale) have increased significantly in April this year. Among them, aluminum products exported 451,000 tons, an increase of 4.9% year-on-year, an increase of 0.2% from the previous period; exports of steel products were 6.48 million tons, which was the same as the same period of last year, a significant increase of 14.7% from the previous month, and the highest level since August last year. According to the report, this shows that the United States' application of tariffs has not affected the overseas sales of Chinese steel and aluminum products. The United States has imposed tariffs of 25% and 10% on imports of steel and aluminum products(Aluminum coating sheet 5052) since March 23. However, analysts said that the impact of U.S. tariffs on aluminum products was offset by U.S. sanctions against U.S. Alcoa’s joint ventures, which led to a surge in aluminum prices in the international market and boosted Chinese companies’ overseas sales growth.
UBS analyst Lachan Shaw said that exports of aluminum products(Aluminum coated coil 1100-O) continue, indicating that U.S. tariffs have not materially affected the trade of this product. Some U.S. manufacturers pay customs duties in order to ensure the required imports, so at present, the trade in aluminum products has not been significantly affected.