Primary aluminium inventories decline as tax cuts improve purchases

SHANGHAI, Mar 21 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.734 million mt as of Thursday March 21, down some 20,000 mt from Thursday March 14, SMM data showed.

Purchasing enthusiasm among downstream consumers improved ahead of the value-added tax cuts. This helped lower social inventories of primary aluminium.

Details:

Wuxi, Jiangsu – 619,000 mt

Shanghai – 311,000 mt

Nanhai, Guangdong – 409,000 mt

Gongyi, Henan – 140,000 mt

Hangzhou, Zhejiang – 134,000 mt

Tianjin – 56,000 mt

Linyi, Shandong – 30,000 mt

Chongqing –35,000 mt