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Brief analysis of mainland China's aluminum alloy wheel exports in August 2020

In August 2020, China exported 7.665 million aluminum wheels, with a total of 46.701 million in the current year; the export amount was USD 327 million, with a total of USD 2.045 billion in the current year.

2021/09/24

In August 2020, China exported 7.665 million aluminum wheels, with a total of 46.701 million in the current year; the export amount was USD 327 million, with a total of USD 2.045 billion in the current year.


Compared with the same period last year, the number of exports increased by 3.59% and the export value increased slightly by 0.31%, indicating that the export downturn caused by the COVID-19 epidemic has been alleviated and the export volume and value have returned to the level of the same period last year before the epidemic, but the export unit price has decreased year-on-year, down by 3.4%. 


From the perspective of the annual export situation, since the bottoming out in June, August still maintained the growth trend, the export quantity and value increased by 15.84% and 12.37% year-on-year respectively, but the export price dropped by 2.99% year-on-year. 


Although the export situation in August has basically returned to normal, there is still a gap with the historical good level of 2018, both the export quantity, export amount and export price are still 13.11%, 26.30% and 11.66% down respectively compared with the same period in 2018, which is mainly caused by the trade friction between China and the United States.


All in all, with the stabilization of the epidemic, especially in China, the epidemic has been effectively controlled and the macroeconomic situation has improved. Now we know from the channels that the business situation of all domestic wheel factories has also improved greatly, the number of orders has surged and the production lines that have been stagnant for several months have started at full capacity again. But we also need to be prepared psychologically, the temperature in the northern hemisphere has begun to turn cool, medical experts fear that the second wave of the epidemic has shown signs in Europe, if the COVID-19 virus again on a large scale, the situation last winter and this spring there may be a repeat.



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