Brisk demand, limited arrivals extend declines in inventories of primary aluminium

SHANGHAI, May 16 (SMM) – Primary aluminium stocks in China continued to fall this week, as demand remained decent and limited cargoes arrived.

The premium of spot prices over prices of futures triggered a larger outflow of warrants, which also reduced inventories.

SMM data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped 63,000 mt from Thursday May 9 to stand at 1.346 million mt as of Thursday May 16.

Details:

Wuxi, Jiangsu – 483,000 mt

Shanghai – 270,000 mt

Nanhai, Guangdong – 286,000 mt

Gongyi, Henan – 95,000 mt

Hangzhou, Zhejiang – 114,000 mt

Tianjin – 58,000 mt

Linyi, Shandong – 13,000 mt

Chongqing –27,000 mt