Downstream purchases further shrink aluminium stocks

SHANGHAI, Oct 18 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.583 million mt as of Thursday October 18, down some 30,000 mt from Thursday October 11, SMM data showed.

The decline week-on-week exceeds stocks built over the National Day holiday, indicating continued downstream purchases. Inventories in Wuxi and Gongyi declined significantly on the week. 

Details:

Wuxi, Jiangsu – 673,000 mt

Shanghai – 354,000 mt

Nanhai, Guangdong – 250,000 mt

Gongyi, Henan – 107,000 mt

Hangzhou, Zhejiang – 97,000 mt

Tianjin – 54,000 mt

Linyi, Shandong – 24,000 mt

Chongqing – 24,000 mt