Domestic Aluminium Social Inventory Rose 13,000 mt from Last Thursday

SHANGHAI, Mar 28 (SMM) – SMM domestic aluminium social inventory rose 13,000 mt from last Thursday to 1.05 million mt as of Monday March 28.

Wuxi and Gongyi contributed most of the increases. The inventory in Wuxi rose 11,000 mt during this period due to concentrated arrival. Gongyi also recorded a gain of 10,000 mt amid hindered shipments from the warehouses. The inventory dropped 9,000 mt in Nanhai owing to less arrivals, flat in Linyi, and rose slightly in Tianjin amid continuous arrivals.

Domestic aluminium capacity accelerated their pace of production resumption, but it was still below the level of same period last year. The logistics efficiency of aluminium ingots in some areas was low due to the impact of COVID, which subsequently hampered the arrivals and shipments of ingots. The market shall keep an eye on the changes of aluminium prices as well as marginal influence of COVID on social inventory.