China Aluminum Inventories Grow for Three Consecutive Weeks, SMM Reports-Shanghai Metals Market

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China Aluminum Inventories Grow for Three Consecutive Weeks, SMM Reports

Industry News 10:02:05AM Nov 21, 2016 Source:SMM

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

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

Key Words:  china aluminum stocks    
Relative News

Price

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Aluminum Ingot
Jul.22
13850.0
-70.0
(-0.50%)
Aluminum Ingot - Fo Shan
Jul.22
13820.0
-90.0
(-0.65%)
Aluminum Ingot - Wu Xi
Jul.22
13840.0
-65.0
(-0.47%)
Aluminum Ingot - Hang Zhou
Jul.22
13850.0
-80.0
(-0.57%)
Aluminum Ingot - Chong Qing
Jul.22
13830.0
-70.0
(-0.50%)

China Aluminum Inventories Grow for Three Consecutive Weeks, SMM Reports

Industry News 10:02:05AM Nov 21, 2016 Source:SMM

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

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

Key Words:  china aluminum stocks