Spot aluminium stockpiles topped 1 million tonnes in China as downstream consumption showed no signs of recovery, 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 by 79,000 tons last week to 1.07 million tons, according to the survey.
Spot stocks were 353,000 tonnes in Shanghai, 296,000 tons in Wuxi, 370,000 tonnes in Nanhai and 52,000 tons in Hangzhou, the survey showed.
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