Primary aluminium inventories decline as tax cuts improve purchases

Published: Mar 21, 2019 11:57

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Stocks declined some 20,000 mt from a week ago to stand at 1.7 million mt as of Mar 21

SHANGHAI, Mar 21 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.734 million mt as of Thursday March 21, down some 20,000 mt from Thursday March 14, SMM data showed.

Purchasing enthusiasm among downstream consumers improved ahead of the value-added tax cuts. This helped lower social inventories of primary aluminium.

Details:

Wuxi, Jiangsu – 619,000 mt

Shanghai – 311,000 mt

Nanhai, Guangdong – 409,000 mt

Gongyi, Henan – 140,000 mt

Hangzhou, Zhejiang – 134,000 mt

Tianjin – 56,000 mt

Linyi, Shandong – 30,000 mt

Chongqing –35,000 mt

Inventory data Aluminium

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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