China Aluminum Stocks Fall Faster on Demand Recovery, SMM Reports

Industry News 10:21:30AM May 16, 2016 Source:SMM

SHANGHAI, May 16 (SMM) – Aluminum stocks in China’s five major markets fell at a much faster pace last week as demand has picked up, SMM says.

Warehouse withdrawals recovered markedly, but arrivals did not keep up pace, SMM learned. Downstream buyers returned to the market as their panic eased after aluminum prices fell slower. Processors that chose to work through stocks on hand two weeks ago also entered the market. 

SMM expects aluminum destocking to continue this week. 

The table below shows details of aluminum stocks at China’s five major markets:

Unit: 1,000 tonne

Date

Shanghai

Wuxi

Hangzhou

Gongyi

Nanhai

Total

May 5

256

159

45

25

128

613

May 13

242

151

36

21

120

570

Change

-14

-8

-9

-4

-8

-43

Power Costs Vary Greatly for Aluminum Smelters in Different Parts of China

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  China aluminum stocks 
Relative News

China Aluminum Stocks Fall Faster on Demand Recovery, SMM Reports

Industry News 10:21:30AM May 16, 2016 Source:SMM

SHANGHAI, May 16 (SMM) – Aluminum stocks in China’s five major markets fell at a much faster pace last week as demand has picked up, SMM says.

Warehouse withdrawals recovered markedly, but arrivals did not keep up pace, SMM learned. Downstream buyers returned to the market as their panic eased after aluminum prices fell slower. Processors that chose to work through stocks on hand two weeks ago also entered the market. 

SMM expects aluminum destocking to continue this week. 

The table below shows details of aluminum stocks at China’s five major markets:

Unit: 1,000 tonne

Date

Shanghai

Wuxi

Hangzhou

Gongyi

Nanhai

Total

May 5

256

159

45

25

128

613

May 13

242

151

36

21

120

570

Change

-14

-8

-9

-4

-8

-43

Power Costs Vary Greatly for Aluminum Smelters in Different Parts of China

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  China aluminum stocks