China's aluminium exports jump on global shortages

China’s aluminium exports rose 15 percent in April compared with the same period last year, as the US-Israel war on Iran continues to disrupt global supply chains and keep the Strait of Hormuz effectively closed, News.Az reports, citing Al Jazeera.

Customs data released on Saturday showed that exports of unwrought aluminium and aluminium products reached 598,000 metric tonnes in April. Year-to-date shipments climbed to 2.05 million tonnes.

Analysts have projected a strong year for Chinese aluminium exports due to the ongoing effects of the conflict involving Iran and the resulting pressure on global supply availability.

China’s export growth has also accelerated as manufacturers moved quickly to fulfill a surge in overseas demand from buyers attempting to build up inventories.

Companies have reportedly increased orders amid concerns that the war could further drive up global production and input costs.

News.Az 

By Nijat Babayev