Shanghai Nonferrous Metals News
7th November: Total domestic aluminium inventory at China’s major store houses dropped by 17 kt from last Thursday to 853 kt. The figure includes 145 kt in Shanghai, 231 kt in Wuxi, 55 kt in Hangzhou, 58 kt in Gongyi, 279 kt in Nanhai, 53 kt in Tianjin, 26 kt in Chongqing and 6 kt in Linyi.
Primary aluminium destocking continues due to slow growth in supply, easing pressure from congested new arrivals after the National Day holiday and continuing solid demand. Domestic primary aluminium inventory is expected to drop to 700 kt~750 kt at end-2019, meaning destocking of 600kt~700 kt during 2019.
