Primary aluminium inventories shrank 25,000 mt on week

Published: Apr 29, 2021 15:36

Save

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 25,000 mt on the week to 1.12 million mt as of April 29, and Wuxi mainly contributed to the decline.

SHANGHAI, Apr 29 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 25,000 mt from the prior week to 1.12 million mt as of April 29, and Wuxi mainly contributed to the decline.

Inventory data Primary 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

35 mins ago

Aluminum Billet Processing Fees Plunge Below Cost Line; Foshan Market Consolidates Weakly at Lows [SMM Analysis]

As August drew to a close, looking back at China's aluminum billet market this month, "divergence" and "pressure" were the two most distinct key words. On one side was the resilient, eye-catching performance of aluminum prices; on the other was the continued slump in aluminum billet processing fees...

35 mins ago

1 hour ago

On the Eve of the "September Peak Season": Aluminum Billet Processing Fees Plunge Below the Cost Line, Foshan Market Weakly Consolidates at Lows [SMM Analysis]

[SMM Analysis: On the Eve of "September Peak Season": Aluminum Billet Processing Fees Plunge Below the Cost Line; Foshan Market Consolidates Weakly at Lows] As August drew to a close, looking back at China's aluminum billet market this month, "divergence" and "pressure" were the two most distinct key words. On one side was the strong, impressive performance of aluminum prices; on the other side was the continued slide in aluminum billet processing fees—the φ120 aluminum billet processing fee in Foshan fell steadily from 180 yuan/mt at end-July, briefly touched a record low of 30 yuan/mt in intraday trading on August 12, and was quoted at only 110 yuan/mt as of August 28, already clearly below the industry average production cost line. Social inventory of aluminum billet accumulated for four consecutive weeks to a stage high of 144,500 mt; spot trades cooled several times; suppliers' willingness to cash out and downstream wait-and-see sentiment repeatedly pulled back and forth; and market participants' fatigue grew by the day...

1 hour ago

3 hours ago

Iran, Oman Reach Consensus on Reopening Strait of Hormuz Under Coordinated Plan

Regarding the ongoing negotiations with Oman over the Strait of Hormuz, Iranian President Pezeshkian said that Oman initially supported Iran but later adopted a more reserved stance; however, in recent meetings the two sides reached consensus again and agreed to reopen the strait’s shipping lane under a coordinated plan. Pezeshkian stressed that Iran is currently working to ensure that if the shipping lane is reopened under a specific framework, the US must also fulfill its obligations. These obligations include lifting the blockade and sanctions, unfreezing Iranian funds, and halting Israel’s hostilities in Lebanon, among others. Iran will open the Strait of Hormuz based on its own national policies.

3 hours ago