Aluminium inventory draw faster as consumption picks up

SHANGHAI, Jul 12 (SMM) – China's inventory of primary aluminium across eight major markets, including SHFE warrants, fell 33,000 mt over the week to stand at 1.8 million mt as of Thursday July 12, SMM data showed.

Accelerated downstream consumption due to falling prices led the decline in stocks to be bigger than the 10,000 mt week-on-week drop recorded last Thursday.

Details are as follows:

Wuxi, Jiangsu – 767,000 mt

Shanghai – 424,000 mt

Nanhai, Guangdong – 228,000 mt

Gongyi, Henan – 179,000 mt

Hangzhou, Zhejiang – 102,000 mt

Tianjin – 56,000 mt

Linyi, Shandong – 28,000 mt

Chongqing – 17,000 mt