Concerns about the impact of COVID-19 on aluminium supply chain

SMM has undertaken further surveys covering the impact of the coronavirus outbreak issues in China on physical metals markets. We will be hosting a 4-session special webinar series over the next 2 weeks, focusing on the impact of the coronavirus (COVID-19) outbreak on Wednesdays and Fridays, 5pm CST.

Our analysts will share their insights and outlook on the Chinese domestic market and look at how COVID-19  will impact demand and supply of ferrous and nonferrous metals.

February 14 (Friday) 5pm CST: Aluminium supply chain
Registration: https://register.gotowebinar.com/register/441778679228901644

Concerns about the impact of COVID-19 on aluminium consumption and higher inventories led to a decline of 3.5% in futures prices on the first trading day after the CNY holidays. Meanwhile, alumina prices have been rising in some regions due to logistics constrains.

According to SMM data, social inventories of aluminium ingots across China’s eight major markets totalled 945,000 mt as of February 6, up 255,000 mt or 37% from pre-holiday level. Arrivals during this year’s Chinese New Year recorded the biggest increase in five years as the holiday was extended by three days due to the COVID-19 epidemic. Inventories are likely to increase 200,000 mt to 1.2 million mt in the next ten weeks after Chinese New Year.  

We welcome you to join us on February 14, 5pm CST and find out more about the production and operation status of the aluminium supply chain and what's happening in the nonferrous metals market during the COVID-19 outbreak. 

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