SHANGHAI, Sept. 12 (SMM) – Aluminum stocks in China’s seven major markets began to fall after frequently refreshing record highs.
Aluminum Stocks in China Seven Major Markets Begin to Fall from Peak, SMM Says
What triggered the decline? Will stocks fall further?
SMM attributes the drop partly to a pick-up in downstream purchases after aluminum prices corrected down.
Some processors reopened after environmental checks came to an end in Zhejiang and Jiangsu, etc. This also allowed aluminum demand to increase, SMM explained.
However, some processors said orders are still below levels a year ago, SMM learned.
With additional new capacity to come online in H2 2017, it remains to be seen whether stocks will keep falling, SMM noted.
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