Spot Aluminium Stockpiles Top 1 Million Tonnes in China

SHANGHAI, Mar. 11 (SMM) - Spot aluminium stockpiles topped 1 million tonnes in China as downstream consumption showed no signs of recovery, according to a survey by Shanghai Metals Market.

Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou – rose by 79,000 tonnes last week to 1.07 million tonnes, according to the survey.

Spot stocks were 353,000 tonnes in Shanghai, 296,000 tonnes in Wuxi, 370,000 tonnes in Nanhai and 52,000 tonnes in Hangzhou, the survey showed.