18 FEBRUARY 2015Shanghai Metal Market
Soaring post-holiday aluminum stocks to weigh on prices in China
Edited by : AL CIRCLE
1 min read
Aluminum stocks in China will balloon after the Chinese New Year holiday, as goods continued to arrive while consumption stagnated during the holiday,which will weigh on prices, Shanghai Metals market predicts.
New capacity keeping coming on stream, incentivized by a 1,000 yuan ()/tonne fall in production cost. Processors will not return to production immediately after the holiday, with demand unlikely to recover until late March or early April.
Aluminum stocks across China’s five major markets (Shanghai, Wuxi, Hangzhou, Nanhai and Gongyi) totaled 685,000 tonnes on February 12, up 123,000 tonnes from a month ago, SMM statistics showed.
New capacity keeping coming on stream, incentivized by a 1,000 yuan ()/tonne fall in production cost. Processors will not return to production immediately after the holiday, with demand unlikely to recover until late March or early April.
Aluminum stocks across China’s five major markets (Shanghai, Wuxi, Hangzhou, Nanhai and Gongyi) totaled 685,000 tonnes on February 12, up 123,000 tonnes from a month ago, SMM statistics showed.
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
Balco wins the coal block Chotia in Chhattisgarh in Tuesday’s auction
Next articleSpot and Stop safety Campaign launched at Qatalum
Grow with
AL Circle
