- Company overview The heart of SMC Vision & Philsophy Partnership Certifications Company culture
- Our service Design and Engineering Maintenance and Service Examine Production Line Upgrade and Transformation Storage and Logistics Processing, Trading and Distributor
- Management Our history Global responsibility Info Center
- Procurement center Internship
- Metal Steel Products Stainless Steel Products Aluminum Products Copper Products Galvanized Steel and PPGI Special Alloy Building Material
- Containers ISO Standard Container Equipment Container Storage Container Container House Refrigerated/Reefer Container Offshore Container Tank Container Container Fittings Container Trailer
- Gas Cylinder & Fire Extinguisher Cryogenic Liquid Cylinder Oxygen Gas Cylinder Storage Tank CNG Gas Cylinder LPG Gas Cylinder Hydrogen Gas Cylinder Nitrogen Gas Cylinder Industry Gas Cylinder Fire Extinguisher
- Metal Machinery Forming Machine Other Machinery Cutting Machine Processing Machine Bending Machine Block Machine Motor Spare Parts
- Mechanical Products Vehicle Industry Miscellany Mooring Equipment Marine Equipment Pressure Vessel Conveyor Belt Laser Equipment Bearing
- Electrical System Electrical Cable Automation Power Distribution Solar Power System Electric Protection System Transformer Production Line Lighting System
- Project Fiberglass Reinforced Plastic Plastic Pipes and Pipe Fittings Pontoon System
China Aluminum Inventory Drops For First Time Since June
Stocks of aluminum registered with the Shanghai Futures Exchange (ShFE) have fallen for the first time in more than nine months, giving the market faint hopes of a drawdown on record inventories of the metal in China.
ShFE aluminium touched 17,775 yuan a ton in September, a near six-year high, incentivizing smelters to churn out and store more metal. The supply continued to flood in even during China's winter heating season, when aluminum output in 28 northern Chinese cities was supposed to be cut by 30 percent.
5 year trend of China's Aluminium Production
Source: National Bureau of Statistics of China
As a result, the Shanghai aluminum price has collapsed from those September peaks and is currently trading below 14,000 yuan per ton.
China is the world's biggest aluminum producer and consumer. China's monthly average aluminum production is almost equivalent to the US's annual production.
The U.S. is the world's largest importer of aluminum, ahead of Germany and Japan, which are second and third place. In an attempt to rectify the United States' trade deficit, President Trump announced a 25 percent tariff on steel imports and 10 percent tariff on aluminum imports in early March.
So far, the trade war hasn't seemed to impact the stock price of Chinese aluminum companies. For example, Aluminum Corporation of China Ltd., a multinational aluminum company headquartered in Beijing, has seen its stock price fluctuate for the past month with a small percentage of decrease. Aluminum Corporation of China is the world's second-largest alumina producer and the largest aluminum producer in China.
The company closed at $13.65 per share in New York today, down 21 cents.
"I don't think anybody really knows what's going on. That's why you've seen the volatility we've seen," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "What we're trying to figure out is how [Trump] handles policy and negotiation. We're still learning what to expect from his negotiating style."
Shanghai Metal Corporation is a trusted aluminum alloy, aluminum foil price, stainless steel price and stainless steel manufacturer, kinds of stainless steel in china.
