24 FEBRUARY 2014www.metal.com
Suvery: Spot Aluminium Stockpiles Grow in China as Downstream Demand Has Yet to Recover
Edited by : AL CIRCLE
1 min read
Spot aluminium stockpiles grew in China by a hefty amount of 82,000 tons last week due to a lack of downstream consumption, 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 - rose to 927,000 tons, with most increases seen in Nanhai and Wuxi on higher local prices, according to the survey.
Growth was limited in Shanghai, where spot stocks were estimated at 331,000 tons, the survey shows.
SMM expects inventories to continue to rise for the foreseeable future as downstream demand has yet to recover following the holiday season.
For instance, aluminium wheel manufacturers are reportedly depleting stocks on hand with the metal prices falling persistently.
Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou - rose to 927,000 tons, with most increases seen in Nanhai and Wuxi on higher local prices, according to the survey.
Growth was limited in Shanghai, where spot stocks were estimated at 331,000 tons, the survey shows.
SMM expects inventories to continue to rise for the foreseeable future as downstream demand has yet to recover following the holiday season.
For instance, aluminium wheel manufacturers are reportedly depleting stocks on hand with the metal prices falling persistently.
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