21 JUNE 2016Shanghai Metals Market
Aluminium inventory declines in China mask weakening demand, SMM reports
Edited by : AL CIRCLE
1 min read
Aluminium stocks in China’s major markets remain in the downward track, but this could not be seen as evidence of stronger demand, SMM noted.
In fact, stocks have dropped at a slower pace, as a result of growing shipments from northwest China and weakening consumption, SMM explained.
SMM learned smelters in northwest China stepped up shipments of ingots, which traded higher than SHFE front-month aluminium contract and aluminium liquid. Besides, falling demand for aluminium liquid from nearby aluminium billet producers also pushed smelters in northwest China to increase ingot shipments.
Aluminium ingot stocks in China’s five major markets totaled 406,000 tonne as of June 17, down 22,000 tonnes from June 8, SMM statistics showed.
In fact, stocks have dropped at a slower pace, as a result of growing shipments from northwest China and weakening consumption, SMM explained.
SMM learned smelters in northwest China stepped up shipments of ingots, which traded higher than SHFE front-month aluminium contract and aluminium liquid. Besides, falling demand for aluminium liquid from nearby aluminium billet producers also pushed smelters in northwest China to increase ingot shipments.
Aluminium ingot stocks in China’s five major markets totaled 406,000 tonne as of June 17, down 22,000 tonnes from June 8, SMM statistics showed.
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