Aluminium Ingot Inventory Approaches 1 Million mt, Aluminium Billet Shipments from Social Warehouses Keep Falling

SHANGHAI, Apr 10 (SMM) – The aluminium ingot social inventories across China’s eight major markets totalled 1.006 million mt as of April 10, down 32,000 mt from last Thursday and 60,000 mt from a week ago. The figure was also 55,000 mt below the same period last year. So far this month, the inventory has decreased by 81,000 mt. Smelters’ share of molten aluminium output hit a new high of 71% in March. The decline in the proportion of aluminium ingot output caused fewer ingots to arrive in major markets. Aluminium ingot withdrawals from social warehouses in major markets were 144,000 mt in the week ending April 9, basically flat from the same period last year. On the whole, aluminium ingot stocks are expected to continue to decline in the future, with eyes on how the proportion of molten aluminium and ingot output at smelters will change.

In contrast, aluminium billet social inventories have hovered around 160,000 mt since mid-to-late March, with weekly outflows from social warehouses down from 50,000 mt to the current 35,000 mt. Trades in aluminium billet market in east China were modest, while those in south China declined.