SHANGHAI, Aug. 7 (SMM) –Aluminum ingot stocks in China’s five major markets have been frequently refreshing record highs over the past month. When will stocks reach a peak and begin falling back?
Capacity cuts have totaled 2 million tonnes, SMM statistics showed. New capacity will not come on stream on a large scale until after September. August is still the off-season.
In this context, aluminum stocks should reach a peak in the first half of September, SMM estimates. SMM sees a good chance for aluminum market to destock slightly in Q4 this year.
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