Don’t Get Tricked by Falling Aluminum Stocks in China, SMM Says

Published: Jun 19, 2017 16:38

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Aluminum ingot stocks in China’s five major markets, which had been growing steadily, unexpectedly dropped 2,000 tonnes on a weekly basis last week.

SHANGHAI, Jun. 19 (SMM) – Aluminum ingot stocks in China’s five major markets, which had been growing steadily, unexpectedly dropped 2,000 tonnes on a weekly basis last week.

SMM sees the decline as temporary and expects stocks to return to growth soon.

SMM Sees Plenty of Reasons Not to Keep Aluminum in Your Portfolio

Low costs and high profit are incentivizing new and restarted capacity. SMM statistics showed aluminum capacity in operation nationwide has exceeded 38 million tonnes in June.

Downstream consumption will soften in July and August due to the traditional off-season.

Bauxite in Shanxi to Sustain Local Alumina Production for at Least 10 Years, SMM Survey

As of June 16, aluminum ingot stocks in Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi totaled 1.21 million tonnes.

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China aluminum stocks

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