Supply cuts further lower social inventories of primary aluminium

SHANGHAI, Nov 29 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.386 million mt as of Thursday November 29, down some 38,000 mt from a week ago, SMM data showed.

The 2.7% week-over-week decline exceeded the 2% drop in the previous week as recent supply cuts reduced shipments.

It is estimated to take 13.8 days to deplete current social stocks of primary aluminium ingots in China, which is a relatively high level.

Details:

Wuxi, Jiangsu – 585,000 mt

Shanghai – 339,000 mt

Nanhai, Guangdong – 186,000 mt

Gongyi, Henan – 79,000 mt

Hangzhou, Zhejiang – 97,000 mt

Tianjin – 52,000 mt

Linyi, Shandong – 24,000 mt

Chongqing – 24,000 mt