When will China aluminium stocks enter turning point? SMM reports
Aluminium capacity is being restarted, albeit slowly. Aluminium ingot shipments from northwest China will keep growing. Downstream producers will reduce stocks in the fourth week of June against falling orders, which will significantly hurt demand for both aluminium ingot and aluminium liquid.
Based on current pace of aluminium ingot shipments from northwest China, SMM sees a good chance for stocks to begin increasing after the second week of July.
Aluminium stocks in China’s five major markets, which were 406,000 tonnes as of June 16, will continue falling slightly before the first half of July, SMM added.
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