China's primary aluminium inventories extend week-on-week growth by 181,000 tonnes to 1.082MT

Social inventories of primary aluminium in China have continued to grow this week, ending on Thursday, February 25, according to the Shanghai Metals Market. Data shows inventories have expanded across eight major Chinese consumption areas, including SHFE warrants, to come in at 1.082 million tonnes, reflecting a week-on-week hike of 181,000 tonnes from 901,000 tonnes on February 18 and an increase of 58,000 tonnes from 1.022 million tonnes on February 22.

Higher arrivals of stocks to Wuxi, Nanhai, and Gongyi have primarily contributed to the further rise in China’s primary aluminium inventories.

Wuxi has seen a jump of 102,000 tonnes in primary aluminium inventories week-on-week to 410,000 tonnes on February 25, followed by a surge of 42,000 tonnes in Nanhai to 248,000 tonnes. In Gongyi, primary aluminium inventories have grown 27,000 tonnes to 175,000 tonnes, while the stocks in Hangzhou and Shanghai have inched up by 4,000 tonnes and 3,000 tonnes to 97,000 tonnes and 84,000 tonnes, respectively.

In Tianjin, Chongqing, and Linyi, primary aluminium inventories have grown 1,000 tonnes to come in at RMB 55,000 tonnes, 3,000 tonnes, and 10,000 tonnes, respectively.