25 JULY 2016Shanghai Metals Market
China aluminium stocks to see turning point falling after hitting 7-year low
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<p>Aluminium stocks in China’s five major markets continued falling after hitting their lowest in seven years, but a turning point is in sight, SMM understands.<br /><br />Heavy rains along the middle and lower reaches of the Yangtze River earlier are leaving some ingots still on the way, preventing arrivals from picking up noticeably, SMM learned.<br /><br />While rains have slowed down transport, more ingots will arrive once transport fully recovers. Aluminium consumption is unlikely to pick up markedly in the short term. As such, total aluminium stocks in domestic five major markets will begin to see a turning point for the foreseeable future, SMM predicts.<br /><br />The table below shows details of aluminium stocks at China’s five major markets:<br /><br /><img src="http://www.alcircle.com/uploads/images/China%20stocks%2024.7.16.jpg" alt="News" width="431" height="128" /><br /><br />Unit: 1,000 tonne</p>
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