Aluminium Ingot Inventory Hits Lowest in 2022, but Rose in Some Areas
Time:Tue, 08 Nov 2022 06:47:30 +0800
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The aluminium ingot social inventories across China’s eight major markets totalled 571,000 mt as of November 7, down 9,000 mt from last Thursday. The figure was also 42,000 mt lower than a month ago and 440,000 mt lower than in the same period last year. Inventory in Gongyi added 6,000 mt from last Thursday due to cargo arrivals and pandemic-induced restrictions on cargo pick-up from warehouses. Inventory in Wuxi and south China continued to drop, but the decline in the latter slowed due to weakening trades. The current inventory is a new low in 2022, mainly driven by transportation restrictions. Downstream restocking was still mostly based on rigid demand.
