SHANGHAI, Aug. 11 (SMM) – Aluminum stocks in China’s five major markets, already at an all-time high, look set to break through 1.8 million tonnes after the 2018 Chinese New Year holiday in mid-February, SMM expects.
China Aluminum Stocks Continue Growing Sharply, SMM Says
Aluminum stocks will remain stubbornly high at above 1 million tonnes for the foreseeable future, unless there are large-scale cuts.
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As of mid-July, new aluminum capacity in Inner Mongolia, Qinghai, Gansu, among other regions, were above 1.5 million tonnes, SMM estimated.
These new capacities will release output after September this year.
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