Aluminium inventory dwindles on more exports

SHANGHAI, Jul 30 (SMM) – China’s primary aluminium inventory continued to shrink over the weekend as consumption was bolstered by exports despite a low season in the domestic market, SMM research found.

The slow commissioning new capacity, dragged by rebounding costs, also contributed to the decline in inventory.

The inventory across eight major consumption areas, including SHFE warrants, decreased 15,000 mt from last Thursday to 1.78 million mt as of Monday July 30, SMM data showed.

Details are as follows:

Wuxi, Jiangsu – 761,000 mt

Shanghai – 415,000 mt

Nanhai, Guangdong – 229,000 mt

Gongyi, Henan – 162,000 mt

Hangzhou, Zhejiang – 110,000 mt

Tianjin – 53,000 mt

Linyi, Shandong – 28,000 mt

Chongqing – 22,000 mt