Korea's aluminum flat product sales performance resulted in a little bit improvement in May, while major four companies including Novelis Korea, Daehi Al, Choil aluminum and Morgan Aluminum increased May shipment by 0.9 percent a year ago from 72,887 tons to 73,515 tons, of which export demand rose 63 percent to 47,195 tons, but Korean shipment downed 7.6 percent to 26,320 tons respectively. By company, Choil Aluminum showed a generally leaped sales on the Korean market, but all others saw sales contraction domestically. Most of the industry could not avoid the business recession except Novelis Korea which is depending higher portion on exports.
Korean aluminum flat product market is faced with the domestic need constraints as the demand for canned products which weigh higher export share is leaping in Vietnam, China and India. In particular, with the extending conflicts in trade between the Us and China, the uncertainty remains at the Korean market in general pulling down the prices. In addition, Chinese low-priced import flooding into the Korean aluminum market squeezes the domestic market.
Meanwhile, Korean major aluminum flat product manufacturers held off their selling prices in June, and Choil aluminum set its domestic prices at 3,280,000 won a ton for 03mm foil materials while Novelis Korea set at 3,030,000~3,050,000 won a ton depending on the relationship with the customers.
Source: Steel&Metal News |
