10 DECEMBER 2015Shanghai Metal Market
China aluminium stockpiling on the table, SMM learns
Edited by : AL CIRCLE
1 min read
Aluminium prices in China got an immediate boost on Wednesday as news on aluminium ingot stockpiling has been confirmed.
SMM has learned that aluminium ingot stockpiling is in the cards, although who and how much to stockpile remains in the air.
Major Chinese aluminium smelters have gathered together to discuss matters concerning aluminium ingot stockpiling, and the meeting result will be announced soon.
In fact, aluminium supply in China is already beginning to tighten as recent production cuts have pushed down aluminum stocks in east and south China, major consumption hubs. This, together with stockpiling, will continue offering upward momentum to aluminium prices in the near future, SMM expects.
SHFE 1512 aluminium contract closed at 10,390 yuan per tonne as of November 9.
SMM has learned that aluminium ingot stockpiling is in the cards, although who and how much to stockpile remains in the air.
Major Chinese aluminium smelters have gathered together to discuss matters concerning aluminium ingot stockpiling, and the meeting result will be announced soon.
In fact, aluminium supply in China is already beginning to tighten as recent production cuts have pushed down aluminum stocks in east and south China, major consumption hubs. This, together with stockpiling, will continue offering upward momentum to aluminium prices in the near future, SMM expects.
SHFE 1512 aluminium contract closed at 10,390 yuan per tonne as of November 9.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
China’s aluminium plants to meet to discuss output cuts
Next articleAluminium glut piling up at hidden Asian warehouses
Grow with
AL Circle
