India sharply reduced aluminum foil imports from China in 2020

China aluminum foil exports drop by 4.9% to 1.2 million metric tons

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China's aluminum foil exports globally, fell by 4.9% in 2020 with the biggest decline to India
China's aluminum foil exports globally, fell by 4.9% in 2020 with the biggest decline to India

5 October 2021, IndexBox has just published a new report, ‘China – Aluminium Foil – Market Analysis, Forecast, Size, Trends and Insights.’  A press release summarizing the report’s key findings says that Chinese aluminum foil global exports dropped by 4.9% to 1.2 million metric tonnes in 2020. The supplies to South Korea, Thailand, and India constitute 22% of Chinese 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. 

Chinese aluminum foil exports by country

Aluminum foil exports from China fell to 1.2 million metric tons in 2020, in comparison to 2019 figures. In value terms, its aluminum foil exports dropped from US$ 4 billion (approximately Indian Rs 30,000 crore) in 2019 to US$ 3.8 billion (about 28,120 crore) (IndexBox estimates) in 2020.

India (at 98,000 metric tons), Thailand (97,000 metric tons), and South Korea (75,000 metric tons) were the main destinations of aluminum 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 US, Mexico, Japan, Viet Nam, Malaysia, Italy, and Canada, which accounted for a further 38%.

IndexBox report on China's aluminum foil exports
IndexBox report on China’s aluminum foil exports

IndexBox report on China’s aluminum foil exportsouth Korea (75,000 metric tons) were the main destinations of aluminum 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 US, Mexico, Japan, Viet Nam, Malaysia, Italy, and Canada, which accounted for a further 38%.

In value terms, South Korea (US$ 354 million), Thailand (US$ 278 million), and India (US$ 261 million) appeared to be the largest markets for aluminum foil exported from China worldwide, with a combined 23% share of total exports. Japan, the US, Indonesia, the United Arab Emirates, Saudi Arabia, Malaysia, Mexico, Viet Nam, Italy, and Canada lagged somewhat behind, accounting for a further 38%.

Indian imports of aluminum from China shrink by 29%

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 30% y-o-y in value terms. By contrast, Chinese exports to South Korea (+2% y-o-y), Thailand (+5% y-o-y), and Indonesia (+4% y-o-y) grew.

In 2020, the average aluminum foil export price amounted to US$ 3,109 per metric ton, almost unchanged from the previous year. However, 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 growth rate 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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