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
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