The Business Insider website reported July 20 that, despite the continuing trade tensions between China and the United States, Chinese aluminum exports amounted to 2.7 million tonnes in the first half of the year, up 12% per cent year-on-year, a record high since December 2014. Experts said that China's manufacturers of aluminum products are seizing the opportunity to increase international aluminum prices, increasing production. One reason for the rise in international aluminium prices is the U.S. government's sanctions against Rusal. Rusal accounted for 6% to 7% of the total global supply of aluminum, while Rusal's exports fell 9% per cent in the first half of the year. Since the United States announced April 6 sanctions on the company, the company's export volume has been a sharp decline.
The recent supply gap in the international aluminium market is expected to be filled by Chinese producers. Although the U.S. government has listed aluminum ore and concentrates in the next 200 billion dollar list of tariffs on China, the international market supply gap that the US has imposed on rusal means there is no shortage of buyers for Chinalco. At present, the United States imports of aluminum products, Canada accounted for more than 40%, China accounted for about 15%. But the US government has imposed a 10% tariff on Canadian aluminium products, which means that China's exports to Alcoa products will increase further in the future.
Experts expect China's exports of aluminium products to record record levels this year.