China's primary aluminium inventories continue to expand to stand at 1.173MT on March 4
According to the Shanghai Metals Market, social inventories of primary aluminium have built-up 91,000 tonnes over the week, ending on Thursday, March 4, 2021. Data shows the stocks across eight major Chinese consumption areas, including SHFE warrants, have come in at 91,000 tonnes, as of March 4, compared to 1.173 million tonnes last week.
Higher arrivals of stocks in Wuxi, Nanhai, and Gongyi primarily attributed to the further expansion in China’s primary aluminium inventories on March 4, found SMM.
The chart below indicates the current status of primary aluminium inventories across China in more details:
Wuxi has seen the highest growth of 38,000 tonnes to 448,000 tonnes on March 4, followed by the surge of 36,000 tonnes in Nanhai to come in at 284,000 tonnes, learned SMM. In Gongyi, primary aluminium inventories have increased by 13,000 tonnes to clock at 188,000 tonnes, while stocks in Shanghai and Linyi have gained 2,000 tonnes to 86,000 tonnes and 12,000 tonnes, respectively.
In Chongqing, social inventories of primary aluminium have remained restrained at 3,000 tonnes, and that in Hangzhou have dipped by 1,000 tonnes to 96,000 tonnes as of March 4.
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