China's aluminum exports reached a record high in the first half of 2018
Although Sino-US trade tensions continue, China's aluminum exports in the first half of this year totaled 2.7 million tons, up 12% year-on-year, the highest since December 2014.
Chinese aluminum producers are taking the opportunity to increase international aluminum prices and continue to increase production. One of the reasons for the rise in international aluminum prices is the US government's sanctions against the Russian Aluminum Corporation. RUSAL accounts for 6% to 7% of the global aluminum supply, while in the first half of this year, RUSAL exports fell by 9%.
At present, Canada accounts for more than 40% of aluminum products imported of the United States, and China accounts for about 15%. However, the US government has imposed a 10% tariff on Canadian aluminum products, which means that China's exports of Alcoa products will increase further in the future. Experts predict that China's aluminum exports will hit a record high this year.
News Date: 24th July, 2018. Reported by Maggie