Aluminium Ingot Social Inventories in China Extend Declines

SHANGHAI, Nov 14 (SMM) – The aluminium ingot social inventories across China’s eight major markets totalled 553,000 mt as of November 14, down 23,000 mt from last Thursday. The figure was also 59,000 mt lower than a month ago and 469,000 mt less than the same period last year. The overall decline was led by Wuxi (-24,000 mt). Wuxi saw limited arrivals, and inventory in the region will remain low this week. Inventory in Gongyi also declined as the local railway station was not re-opened until November 10 and cargo pick-up from warehouses has been resumed. The inventory decline in south China has slowed down, and the local inventory remained low at around 120,000 mt. Overall, it is expected that the social inventory will stay at a low level.