China aluminium destocking slows on softening consumption

Aluminium stocks in China fell at a slower pace as downstream consumption has softened. Aluminium stocks in China’s five major trading markets fell almost 40,000 tonnes each week on average in December, SMM data showed. However, average weekly decline was just about 5,000 tonnes in the first half of January.

Some small and medium aluminium processors have closed early for the 2016 Chinese New Year holiday due in early February, hurting consumption of the light metal, SMM has learned.

Aluminium smelters stepped up shipments to regions with massive production cuts, allowing stocks in major trading markets to continue falling, though.

The table below shows details of aluminum stocks at China’s five major markets:

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