Tax cut, consumption recovery lower primary aluminium inventories

SHANGHAI, Mar 28 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.678 million mt as of Thursday March 28, down some 56,000 mt from Thursday March 21, SMM data showed.

Tax cuts and consumption recovery bolstered purchases and lowered social inventories of primary aluminium for a second straight week.

Details:

Wuxi, Jiangsu – 603,000 mt

Shanghai – 300,000 mt

Nanhai, Guangdong – 391,000 mt

Gongyi, Henan – 134,000 mt

Hangzhou, Zhejiang – 130,000 mt

Tianjin – 57,000 mt

Linyi, Shandong – 29,000 mt

Chongqing –34,000 mt