SMM: China Aluminum Stocks Hit Over 4-Year High

Published: Jul 18, 2017 12:03

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Aluminum ingot stocks in China’s five major markets have reached the highest level in nearly five years, SMM statistics showed.

SHANGHAI, Jul. 18 (SMM) –Aluminum ingot stocks in China’s five major markets have reached the highest level in nearly five years, SMM statistics showed.

As of July 14, stocks in Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi totaled 1.25 million tonnes, up 30,000 tonnes on a weekly basis.

Potential Surplus from Aluminum Capacity Cuts to Weigh on Alumina Prices, SMM Warns

Downstream producers showed low buying interest due to falling orders, and impact from production cuts has not been felt, leading to the growth, SMM explained.

NBS: China Aluminum Output Grows Notably in June

Despite cuts in Shandong and Xinjiang, the lost supply will be filled by new legal capacity in Inner Mongolia, Guangxi and Guizhou, etc. Hence, the supply glut will persist, SMM expects.

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China aluminum stocks

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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