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Home / Metal News / SMM China Aluminium Social Inventory Dropped 28,000 mt from Last Thursday

SMM China Aluminium Social Inventory Dropped 28,000 mt from Last Thursday

Mar 21, 2022 11:47

Source:SMM

SMM China aluminium social inventory dropped 28,000 mt from last Thursday to 1.06 million mt as of March 21.

SHANGHAI, Mar 21 (SMM) – SMM China aluminium social inventory dropped 28,000 mt from last Thursday to 1.06 million mt as of March 21.

The inventory in Gongyi, Nanhai and Wuxi contributed most of the declines, with local inventory falling by 10,000 mt, 8,000 mt and 5,000 mt respectively. The inventory in Linyi was flat, while that in Tianjin rose slightly amid heightened arrivals over the weekend.

Domestic operating aluminium capacity rose slightly, but the overall output still fell behind that in the same period last year. In addition, transport efficiency of aluminium ingot was low in some places amid resurging COVID-19 pandemic, which delayed the arrival of goods. The market shall continue to watch the fluctuations of aluminium prices as well as the marginal changes of inventory on the back of evolving COVID situation in China.

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