23 APRIL 2014AlCircle.com
Spot Aluminium Stockpiles declines for the first time in China over a year
Edited by : AL CIRCLE
1 min read
The stockpiles of spot aluminium in China was down for the 1st time within a year after the production was cut down in a number of smelters to reduce losses, a survey made by Shanghai Metals Market said that.
On a spot basis, stockpiles of aluminium were down in four major trading regions in China - Shanghai, Hangzhou, Nanhai and Wuxi by 34,000 tons to 1.26 mn tons last week, the survey said.
With low aluminium prices and surplus in production, many aluminium producers such as Aluminum Corporation of China (Chalco) have started cutting down on the production.
A capacity of over 1.3 million tpy has been stooped since last year beginning and that has resulted in the decreasing output of the metal, the SMM research team said.
Downstream consumption is going up at the same time with the processors giving more importance to aluminium liquid over the ingots.
SMM also expects that the spot stocks will continue to decline in future at a slow pace if the downstream demand is given a priority.
On a spot basis, stockpiles of aluminium were down in four major trading regions in China - Shanghai, Hangzhou, Nanhai and Wuxi by 34,000 tons to 1.26 mn tons last week, the survey said.
With low aluminium prices and surplus in production, many aluminium producers such as Aluminum Corporation of China (Chalco) have started cutting down on the production.
A capacity of over 1.3 million tpy has been stooped since last year beginning and that has resulted in the decreasing output of the metal, the SMM research team said.
Downstream consumption is going up at the same time with the processors giving more importance to aluminium liquid over the ingots.
SMM also expects that the spot stocks will continue to decline in future at a slow pace if the downstream demand is given a priority.
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