Mumbai, 23 April (CommoditiesControl): Aluminum ingot inventories in China have plunged to a seven-year low, signaling robust downstream demand and tightening supply. Data from the Shanghai Metals Market (SMM) reveals that as of April 22nd, social inventory stood at 831,000 metric tons, with only 705,000 metric tons available for sale, marking a significant decline of 13,000 metric tons week-over-week.
Several factors contribute to the inventory decline, including the closed import window for aluminum in China, improved inventory control measures, and heightened pre-holiday stocking activities. Regional inventory changes across major consumer areas reflect this trend, with notable drops seen in Central and South China.
Downstream price cuts in the aluminum billets market have also stimulated sales, further reducing inventory levels. Looking ahead, SMM expects a slight decline in aluminum ingot inventories before the Labor Day holiday, with downstream stocking activities likely to persist amidst high aluminum prices.
(By Commoditiescontrol Bureau; +91-9820130172)
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