Brisk demand, limited arrivals extend declines in inventories of primary aluminium

SHANGHAI, May 23 (SMM) – Primary aluminium stocks in China continued to fall this week, as demand remained decent and limited cargoes arrived.

Spot prices remained in a premium over prices of futures, which triggered outflows of warrants, and reduced inventories.

SMM data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped 64,000 mt from Thursday May 16 to stand at 1.282 million mt as of Thursday May 23.

Wuxi, Jiangsu – 461,000 mt

Shanghai – 265,000 mt

Nanhai, Guangdong – 261,000 mt

Gongyi, Henan – 94,000 mt

Hangzhou, Zhejiang – 108,000 mt

Tianjin – 56,000 mt

Linyi, Shandong – 12,000 mt

Chongqing –25,000 mt