China Sharply Reduces Aluminium Foil Exports to India
IndexBox has just published a new report: ‘China – Aluminium Foil – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.
China’s aluminium foil exports dropped by -4.9% to 1.2M tonnes. The supplies to South Korea, Thailand and India constitute 22% of China’s foil exports. India, the largest importer of Chinese foil, recorded the most remarkable reduction of purchases. The supplies from China to South Korea, Thailand and Indonesia grew slightly.
China’s Aluminium Foil Exports by Country
Aluminium foil exports from China fell to 1.2M tonnes in 2020, waning by -4.9% against 2019 figures. In value terms, aluminium foil exports dropped from $4B in 2019 to $3.8B (IndexBox estimates) in 2020.
India (98K tonnes), Thailand (97K tonnes) and South Korea (75K tonnes) were the main destinations of aluminium foil exports from China, with a combined 22% share of total exports. These countries were followed by Indonesia, Saudi Arabia, the United Arab Emirates, the U.S., Mexico, Japan, Viet Nam, Malaysia, Italy and Canada, which together accounted for a further 38%.
In value terms, South Korea ($354M), Thailand ($278M) and India ($261M) appeared to be the largest markets for aluminium foil exported from China worldwide, with a combined 23% share of total exports. Japan, the U.S., Indonesia, the United Arab Emirates, Saudi Arabia, Malaysia, Mexico, Viet Nam, Italy and Canada lagged somewhat behind, together accounting for a further 38%.
Among other countries, India saw the most remarkable reduction of supplies from China. In 2020, exports to India shrank by -29% y-o-y estimated in physical terms and by -30% y-o-y in value terms. By contrast, China’s exports to South Korea (+2% y-o-y), Thailand (+5% y-o-y) and Indonesia (+4% y-o-y) grew.
In 2020, the average aluminium foil export price amounted to $3,109 per tonne, almost unchanged from the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Japan, while the average price for exports to Saudi Arabia was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to Japan, while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Platform
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