WEEKLY: China's spot alumina slips further under rising inventories

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According to Mysteel's latest survey, total alumina stocks across the country's 10 major ports, 44 alumina producers, 89 primary aluminium smelters, and rail yards or in transit increased by 1.4 per cent on a week-to-week basis to 5.4 million tonnes as of January 15. This was also 43.9 per cent higher than the year-prior level and marked a fresh record high since Mysteel began tracking the data in January 2022.

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The inventory build has persisted for more than seven consecutive months since early June last year, Mysteel Global noted, and last week also marked the 12th straight week in which alumina inventories hit a new historical high.

Read More: DAILY: Chinese spot alumina prices inch lower, futures rebound slightly overnight

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