16 MAY 2016Shanghai Metals Market
China aluminium stocks fall faster on demand recovery
Edited by : AL CIRCLE
1 min read
Aluminium stocks in China’s five major markets fell at a much faster pace last week as demand has picked up, SMM says.
Warehouse withdrawals recovered markedly, but arrivals did not keep up pace, SMM learned. Downstream buyers returned to the market as their panic eased after aluminium prices fell slower. Processors that chose to work through stocks on hand two weeks ago also entered the market.
SMM expects aluminium destocking to continue this week.
The table below shows details of aluminium stocks at China’s five major markets:
Unit: 1,000 tonne
Warehouse withdrawals recovered markedly, but arrivals did not keep up pace, SMM learned. Downstream buyers returned to the market as their panic eased after aluminium prices fell slower. Processors that chose to work through stocks on hand two weeks ago also entered the market.
SMM expects aluminium destocking to continue this week.
The table below shows details of aluminium stocks at China’s five major markets:
Unit: 1,000 tonne
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