SHANGHAI, Jul. 22 (SMM) – Aluminum stocks across China’s five major markets fell 58,000 tonnes month-on-month on July 9, down for a second straight month. Will stocks continue falling in coming month?
Commissioning of new aluminum capacity against arrival of off-season mean that aluminum stocks are unlikely to fall further, SMM’s aluminum research said. Aluminum stocks are expected to stay at current highs.
The inventory decline reported on July 9 was due mainly to growing aluminum semis exports. China’s unwrought aluminum and aluminum semis exports grew 40,000 tonnes month-on-month to 450,000 tonnes in June, customs data showed.
The table below shows details of aluminum stocks at China’s five major markets:
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