Shanghai Nonferrous Metals News
SMM: Primary aluminium inventory at social warehouses increased by 148 kt to 1.09 mln t last Thursday. Most downstream aluminium processors had planned to resume operations after 10th February, however, restrictions to transport, logistics, and a lack of workers may slow the resumption process downstream, contracting overall downstream demand.
According to SMM, China produced 3.07 mln t of primary aluminium in January up 3.5% y-o-y, thanks to domestic smelters’ profits holding steady at high levels. As a result, several Qinghai and IM smelters restarted previously idled capacity and some new primary aluminium capacity became operational during January.
