China Aluminum Inventories Grow for Three Consecutive Weeks, SMM Reports

Published: Nov 21, 2016 10:02

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Aluminum stocks in China’s five major markets have been growing for three weeks in a row, SMM statistics showed.

SHANGHAI, Nov. 21 (SMM) – Aluminum stocks in China’s five major markets have been growing for three weeks in a row, SMM statistics showed.

The growth is partly due to release of restarted and new capacity and partly because downstream producers postponed purchases against high aluminum prices, SMM explained. Recent big gains in aluminum prices attracted inflows of imported aluminum ingots into domestic market, another reason behind the inventory increase, SMM added.

SMM Sees No Turnaround for Aluminum Prices Next 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
Nov. 11	87	71	13	37	57	265
Nov. 18	85	75	12	41	66	279
Weekly change	-2	+4	-1	+4	+9	+14

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china aluminum stocks

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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