Primary Aluminium Inventories Increased 7,000 mt on Week

SMM China lead ingot inventory across five major markets totalled 99,800 mt as of Friday April 8, up 400 mt from last Friday April 1 and 500 mt from Wednesday April 6.

The total inventory of HRC across social warehouses and steel makers in China stood at 3.58 million mt as of April 7, up 28,300 mt or 0.8% on the week, a decrease of 0.39% on the year.

Total zinc inventories across seven Chinese markets stood at 133,800 mt as of October 8, up 14,000 mt from September 30 and 2,500 mt from September 27.

Inventories of rebar across Chinese steel makers and social warehouses stood at 8.70 million mt as of September 30, down 1.06 million mt or 10.9% from a week earlier. Stocks are down 1.85 mt or 17.6% from a year earlier.

Total zinc inventories across seven Chinese markets stood at 131,300 mt as of September 27, up 2,100 mt from Friday September 24.

Total zinc inventories across seven Chinese markets stood at 129,200 mt as of September 24, up 6,200 mt from September 13 and 12,000 mt from September 17.

 This is a roundup of China's metals weekly inventory as of September 17.

Shanghai base metals mostly fell in the evening trading on Tuesday as the US dollar index rebounded for two consecutive days.

Shanghai base metals generally fell on Wednesday morning awaiting the third round release of national metals reserves. Meanwhile, their counterparts on LME fell as well.

SHFE aluminium prices have kept rewriting the record high in light of frequent disruptions to the supply side just like today, when the intraday price once surged to 21550 yuan/mt, the highest since May, 2006, and the most-traded SHFE aluminium contract closed at 21495 yuan/mt, an increase of 3.92%. The price surge was triggered by rumours that Guangxi has issued a notice on the convening of a meeting to strengthen the dual control of energy consumption, suggesting that aluminium, alumina in Guangxi will experience further output cut.