SHANGHAI, Jun. 24 (SMM) – Aluminum stocks in China’s five major markets have been falling steadily, though the pace has slowed down significantly. Market is now most concerned with when stocks will begin growing.
Aluminum capacity is being restarted, albeit slowly. Aluminum ingot shipments from northwest China will keep growing. Downstream producers will reduce stocks in the fourth week of June against falling orders, which will significantly hurt demand for both aluminum ingot and aluminum liquid.
Based on current pace of aluminum ingot shipments from northwest China, SMM sees a good chance for stocks to begin increasing after the second week of July.
Aluminum stocks in China’s five major markets, which were 406,000 tonnes as of June 16, will continue falling slightly before the first half of July, SMM added.
Chalco and Baosteel Sign Automotive Aluminum Sheet Cooperation Framework
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