Primary aluminium inventories dropped as demand picked up

SHANGHAI, Apr 16 (SMM) – Social inventories of primary aluminium ingots fell sharply this week, as demand improved.

SMM data showed that social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, decreased 112,000 mt in the week ended April 16 to 1.495 million mt.

This week’s decline was much larger than a 69,000 mt decline in the previous week, which was the first week-on-week decline since the Lunar New Year holiday.