China’s Aluminum ingot social stock reached record highs after Spring Festival

Since continuous supply of aluminum manufacture during Spring Festival,aluminum ingot social stock goes up largely after festival.As the statistic shows ,the aluminum ingot social stock in Shanghai,Wuxi,Nanhai and Guangdong reached record highs with a quantity of 1,119,000 tons,159,000 tons over before festival.

The largely increase mainly because of the overstock of some aluminum manufactures in Northwestern district owning to  tense transportation before festival,especially in Xinjiang district,a large quantity of aluminum ingot piled up on trains and cannot be dispatched.While during the Spring Festival,transportation began to ease up,the increasing supply of aluminum ingot in Northwestern district gave rise to aluminum ingot social stock in various regions.Meanwhile,the flat consumption in downstream before Festival result in companies reluctant to stock a lot,while the stopping work of aluminum manufactures lead to the freeze of downstream consumption.Only arrival without supply,aluminum ingot stock soared.

In addition,Henan district and Shandong district ,mainly sold locally former,now send aluminum ingot to Huadong district,which is also lead to the increase of social stock.

It is known that a large quantity of aluminum ingot were on the way to social stock,while downstream consumption has not recovery yet,it is estimated that aluminum ingot social stock will continue to increase later period.In spite of strong aluminum prices abroad during Spring Festival ,Chinese aluminum prices is short of power to follow the rise in short period.