16 MAY 2014Shanghai Metal Market
Spot aluminium stockpiles continue to fall in China; export orders up
Edited by : AL CIRCLE
1 min read
Spot aluminium stockpiles continued to fall in China as a lower Shanghai-London price ratio increased export orders for the metal products, according to a survey by Shanghai Metals Market.
Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou – were down by 21,000 tonnes last week to 1.16 million tonnes, the survey shows.
Over 1.8 million-tpy aluminium-making capacity has been closed in China this year, with 600,000 tonnes shut alone in April, causing market supply to fall significantly, according to SMM’s research team.
At the same time, a lower Shanghai-London aluminium price ratio allowed fabricators to report a significant growth in export orders while domestic demand remained modest.
China’s exports of aluminium semis are expected to climb in 2014 as fabricators are gaining a cost advantage from more depressed domestic prices of the metal, SMM said at its 9th Copper & Aluminium Summit in March.
Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou – were down by 21,000 tonnes last week to 1.16 million tonnes, the survey shows.
Over 1.8 million-tpy aluminium-making capacity has been closed in China this year, with 600,000 tonnes shut alone in April, causing market supply to fall significantly, according to SMM’s research team.
At the same time, a lower Shanghai-London aluminium price ratio allowed fabricators to report a significant growth in export orders while domestic demand remained modest.
China’s exports of aluminium semis are expected to climb in 2014 as fabricators are gaining a cost advantage from more depressed domestic prices of the metal, SMM said at its 9th Copper & Aluminium Summit in March.
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