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China Aluminum Inventories Soar, Despite Strong Demand, SMM Reports

iconApr 17, 2017 14:56
Source:SMM
Aluminum stocks in China’s five major markets grew as many as 33,000 tonnes last week, SMM statistics showed.

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

Date

Shanghai

Wuxi

Hangzhou

Gongyi

Nanhai

Total

Apr. 7

252

419

70

77

371

1189

Apr. 14

255

431

80

77

379

1222

Weekly change

+3

+12

+10

0

+8

+33

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

China aluminum stocks

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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