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China Aluminum Inventories Grow for Three Consecutive Weeks, SMM Reports
Nov 21, 2016 10:02Source:SMM
Aluminum stocks in China’s five major markets have been growing for three weeks in a row, SMM statistics showed.
SHANGHAI, Nov. 21 (SMM) – Aluminum stocks in China’s five major markets have been growing for three weeks in a row, SMM statistics showed.
The growth is partly due to release of restarted and new capacity and partly because downstream producers postponed purchases against high aluminum prices, SMM explained. Recent big gains in aluminum prices attracted inflows of imported aluminum ingots into domestic market, another reason behind the inventory increase, SMM added.
SMM Sees No Turnaround for Aluminum Prices Next Week
The table below shows details of aluminum stocks at China’s five major markets:
Unit: 1,000 tonne
|
Date |
Shanghai |
Wuxi |
Hangzhou |
Gongyi |
Nanhai |
Total |
|
Nov. 11 |
87 |
71 |
13 |
37 |
57 |
265 |
|
Nov. 18 |
85 |
75 |
12 |
41 |
66 |
279 |
|
Weekly change |
-2 |
+4 |
-1 |
+4 |
+9 |
+14 |
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china aluminum stocks
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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