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China Aluminum Stockpiles Seen at Two-Year High Amid Glut

Aluminum stockpiles in the main trading regions in China have climbed to the highest level in two years as growth in supply outpaces demand in the world’s largest user, according to two industry surveys.

Reserves in Shanghai, Wuxi and Hangzhou, and in Guangdong province gained to about 940,000 metric tons as of Oct. 22, the highest since September 2010, according to Wen Junxiang, head of the research department at Guangzhou KT Commodity Information & Consulting Co. Stockpiles more than doubled this year to about 1 million tons, the largest since July 2010, said Zhang Chenguang, an analyst at data provider SMM Information & Technology Co.