China aluminium stocks grow slow after Chinese National Day holiday: SMM

<p>After the weeklong Chinese National Day holiday, The Chinese market started moving. &nbsp;After the smelters resumed operations, Aluminium stocks in China&rsquo;s five major markets started growing. However, SMM observed that the growth was much lower compared to the past years of aluminium stock movements in China.</p> <p>On October 14, Chinese aluminium stock fell 8,000 tonnes compared to the aluminium stocks on October 7.</p> <p>As SMM reports, hoards of aluminium ingots are being stacked up at railway stations in northwest China, especially Xinjiang provinces. SMM predicts that it is due to tightening railway capacity that concentrated arrivals from northwest China will not be possible until the end of October. &nbsp;</p> <p>The table below shows details of aluminium stocks at China&rsquo;s five major markets:</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/china%20stock1.jpg" alt="" width="574" height="256" /></p> <p>Notably, SHFE aluminium will gather strength due to low stocks in major China markets, SMM says. SHFE 1611 aluminium is expected to move between 12,500-13,000 yuan per tonne (US$ 1862 - US$1937) in the coming week.&nbsp;</p> <p>{googleAdsense}</p> <p>As a result, spot premiums in Chinese market will return to 200 yuan per tonne (US$30) over SHFE 1611 aluminium.&nbsp;</p>