WEEKLY: China's alumina stocks reach new high, output remains stable
China's alumina inventories mounted further during the November 14-20 week, with stocks as of November 20 refreshing a new all-time record high, as they have for the past four weeks, Mysteel data show. But despite the persistent supply surplus, production of the raw material remained largely stable last week, as most producers had to maintain normal operations to meet term contract obligations and secure opportunities to conclude new contracts.
According to Mysteel's survey, total alumina stocks across the ten major Chinese ports, 44 alumina producers, 89 primary aluminium smelters, and rail yards or in transit monitored by Mysteel increased for the 25th consecutive week to 4.88 million tonnes as of November 20, up by a tiny 0.9 per cent from the previous week but still making for the highest stock level since the survey began in January 2022.
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