Primary aluminium inventories extended gains by 103,000 mt on week

Published: Mar 5, 2020 15:40

Save

SMM data showed that social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, increased 103,000 mt in the week ended March 5 to 1.488 million mt

SHANGHAI, Mar 5 (SMM) – Social inventories of primary aluminium in China continued to trend higher this week, albeit by a smaller margin as consumption picked up gradually.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

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

Related News

5 mins ago

SHFE Aluminum Futures Dip Slightly as Traders Stockpile Ahead of Month-End Contracts

SHFE aluminum futures edged slightly lower today. Coinciding with pre-weekend stockpiling and the last month-end delivery day for long-term contracts, traders in the central China market purchased heavily to fulfill long-term contracts, while stockpiling sentiment among downstream processing enterprises also recovered slightly. This led suppliers to keep their offer prices high throughout the session, with a pronounced willingness to hold prices firm and hold back from selling. Ultimately, the actual transaction price range in the central China market centered around a premium of -100 to -120 yuan/mt against the SHFE aluminum August contract.

5 mins ago

2 hours ago

Hydro Secures 5 TWh Renewable Power Deal for Low-Carbon Aluminium in Norway

[SMM Aluminum Express News] Hydro has signed a long-term renewable power purchase agreement (PPA) with Eviny Fornybar, securing 0.5 TWh of electricity annually from 2031 to 2040 for its Norwegian aluminium operations. The agreement covers a total of 5 TWh of renewable power over the contract period, with supply delivered in Norway's NO5 electricity price area, supporting Hydro's low-carbon aluminium production. The agreement strengthens Hydro's long-term energy security as the company continues to lock in renewable power for its smelters. Hydro said the contract will help meet future power demand and support its roadmap toward net-zero emissions by 2050, following other recently announced long-term renewable power agreements in Norway.

2 hours ago

New Section 301 Tariffs Strike, Limited Upside Room for Aluminum Prices in the Short Term [SMM Aluminum Morning Meeting Minutes]

[New 301 Tariffs Strike, Limited Upside Room for Aluminum Prices in the Short Term] Overall forecast: recently macro front sentiment has slightly improved, with sustained geopolitical risk premium in the Middle East and China’s continued destocking of aluminum ingots jointly supporting aluminum prices. However, the continuous addition of long-term aluminum capacity outside China, weak traditional end-use demand in China, coupled with repeated macro perspective uncertainties, put obvious pressure on the upside room for aluminum prices, and in the short term, aluminum prices will maintain a consolidation pattern.

2 hours ago