China's aluminum stockpiles reach new high: expert

China's aluminum inventories reached a record high this week, caused by rapidly growing supply and weak demand in the country, resulting in sharp price drops, an expert said.

The country's overall aluminum stockpiles climbed to 1.25 million metric tons on Monday, almost double the level during the same period late year, according to Myyouse.com, a Shanghai-based commodities information consultancy.

On January 10 last year, the nation's aluminum stockpiles stood at about 700,000 tons, said Li Xun, an analyst at the consultancy.