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[SMM Analysis] the stock of aluminum ingots in Guangdong nearly halved in April
May 6,2020 21:49CST
The content below was translated by Tencent automatically for reference.

SMM5, June 6:

In April, the output of Guangdong aluminum ingots reached a new high (282700 tons), an increase of 49.58 percent over the same period last year, and inflow also hit a new low (91300 tons), down 24.30 percent from the same period last year. Guangdong aluminum ingot inventory was 243400 tons on April 30, down 191400 tons from March 31 (434800 tons).

Demand for aluminum ingots in Guangdong was strong in April, with monthly output of more than 280000 tons at a five-year high, up 81.21 per cent from March. The reasons for the high output include the higher-than-expected orders downstream, the substitution of aluminum ingots for waste aluminum and aluminum bars, and the low-cost hoarding of goods by industrial customers, and so on.

Guangdong aluminum ingot supply fell by a cliff in April, with inflows falling 65.06% month-on-month compared with March. Affected by the rising processing fees of aluminum bars in various places, the proportion of aluminum and water in upstream electrolytic aluminum plants increased and the amount of ingot casting decreased, which reduced the amount of aluminum ingot sent to Guangdong from southwest, northwest and north China to varying degrees.

Guangdong's aluminum ingot inventory was 244800 tons today, up slightly from before the festival, and nearly 20, 000 tons arrived during the holiday, including some of the aluminum ingots transferred from eastern China. However, in the short term, the arrival of Guangdong aluminum ingots is still limited, the supply is difficult to increase significantly, and the overall demand downstream is still strong, so the trend of Guangdong aluminum ingots to the warehouse will continue.

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