China Aluminum Inventories Soar, Despite Strong Demand, SMM Reports

SHANGHAI, Apr. 17 (SMM) – Aluminum stocks in China’s five major markets grew as many as 33,000 tonnes last week, SMM statistics showed.

In the first half of the week, low buying interest depressed market trading, sending down outflows from warehouses. Meanwhile, continuous arrivals of aluminum ingot from northwest China pushed up inventories. In addition to higher inventories in the five regions, stocks at warehouses in Shandong’s Linyi, Suzhou and Luoyang were also up, as goods flew from traditional trading markets after inventories exceeded warehousing capacities, leaving total inventories at highs. 

Currently, capacity utilization rates at aluminum processing enterprises are already at year’s peak, but this is still not enough to consume the stubbornly high inventories after continuous increases. 

Profit Surges at Chinese Aluminum Smelters, SMM Says 

SMM expects inventories in China’s major trading markets to keep growing this week. 

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

Unit: 1,000 tonne

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