SMM Updates On China Aluminium Ingot And Billet Inventories (Apr 17, 2023)

SHANGHAI, Apr 17 (SMM) – The aluminium ingot social inventories across China’s eight major markets totalled 935,000 mt as of April 17, down 31,000 mt from last Thursday and 105,000 mt from the same period last year. So far this month, the inventory has dropped by 153,000 mt. The weekly decline was in line with expectations. The current inventory is the lowest since 2018 when comparing with the same period of previous years.

Stocks fell across all major markets. The inventory in Wuxi has fallen more than 100,000 mt since early April, and that in south China has fallen below 200,000 mt. The current inventory in Gongyi area is about 180,000 mt, and the decline in local inventory was smaller than that in Wuxi and south China.

Aluminium ingot outflows from social warehouses in major markets added 12,900 mt week-on-week to 157,000 mt in the week ending April 16.

The aluminium billet social inventories across China’s five major markets totalled 155,000 mt as of April 17, down 4,500 mt from last Thursday, but up 21,000 mt compared with the same period in 2022. Aluminium billet outflows from social warehouses in major markets added 9,700 mt week-on-week to 44,700 mt in the week ending April 17.