BEIJING: Chinese aluminum semis exports are likely to rise further in the coming months ahead of the US’ decision on the Section 232 investigation into whether Chinese imports into the US threaten national security, Chinese sources said Wednesday.
Most (suppliers) will want to export as much as we can now to the US before the decision is made, just in case a duty is imposed,” a Shanghai trader said. A north China semis producer agreed, adding that stronger London Metal Exchange prices versus domestic levels, high domestic aluminum stockpiles, would also motivate exports. Semis exports will likely increase overall, but especially to the US in the near term,” the north China producer said.
Chinese sources also denied recent talk that exports of “fake semis” have been increasing due to the much higher LME prices, which has opened the arbitrage opportunity for exports.
We’ve been asking around about fake semis exports, and believe it’s not really happening. With the US and China trade situation now, and 232 looming, no one would dare to export fake semis now,” a second Shanghai trader said.
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