MYMETAL: China aluminium stocks down 10%, price up
May 13, 2020 13:30
See Full-size Table Here
Primary aluminium stocks in the warehouses of the Shanghai Futures Exchange and 16 Chinese cities under Mymetal’s weekly survey contracted for the fifth straight week, down another 126,000 tonnes or 10.4% on week to about 1.1 million tonnes as of May 11, as demand remained strong recently.
The robust demand from aluminum rollers and extrusion plants helped ease the ingot inventories among China’s 84 aluminum smelters, with their volume down another 48,000 tonnes on week to 274,000 tonnes as of May 8, according to Mymetal’s weekly survey. Mymetal is Mysteel’s nonferrous market information provider.
China’s national average price