Latest Update in the China Aluminum Market

This is a roundup of China's metals weekly inventory as of July 23.

SHFE nonferrous metals all went up today, amid the dovish statement by the European Central Bank president, the high US jobless claims, and the high July PMI in Eurozone.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on July 23, 2021

Shanghai base metals mostly cruised higher on Friday morning amid dovish comments from European Central Bank. Meanwhile, their counterparts on the LME traded mixed.

SHFE nonferrous metals generally increased as the spread of Delta variant of the COVID-19 virus intensified the market concerns.

Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, decreased 23,000 mt from last Thursday to 809,000 mt as of July 22.

SMM data showed that aluminium billet stocks across the five major consumption areas — Foshan, Wuxi, Huzhou, Changzhou and Nanchang — in China decreased 0.9% or 1,200 mt from a week ago to 119,600 mt as of Thursday July 22.

Jiaozuo Wanfang announced at noon that the water hit the company's northern wall and entered the plant after the heavy rainfall and the flood discharge in Henan, and the entire plant was out of power.