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Production Cuts Accelerate Destocking in China Aluminum Market
Dec 22, 2015 09:06Aluminum stocks in China’s five major trading markets have been falling for four weeks in a row as smelters cut production as countermeasures to aluminum prices that have hit multi-year lows.
SHANGHAI, Dec. 22 (SMM) – Aluminum stocks in China’s five major trading markets have been falling for four weeks in a row as smelters cut production as countermeasures to aluminum prices that have hit multi-year lows.
Smelters that used to ship aluminum ingots to major consumption hubs have ramped up shipment to regions with massive output cuts, SMM has learned. This resulted in lower arrivals into major trading markets. Besides, more aluminum liquid has been turned into intermediate products, such as bar and rod, also reducing ingot available for sale.
The table below shows details of aluminum stocks at China’s five major markets:
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China aluminum stocks
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