China's primary aluminium inventories gain 2000 tonnes this week to stand at 876,000 tonnes: SMM
According to the Shanghai Metals Market, social inventories of primary aluminium gained 2,000 tonnes this week across eight major consumption areas, including SHFE warrants. Thus, the inventories came in at 876,000 tonnes as of Thursday, July 1. Last week on June 24, the inventories stood at 874,000 tonnes after falling by 16,000 tonnes from the previous week.
The chart below shows the current status of primary aluminium inventories across China in more details:
Among all the major Chinese cities, Nanhai and Gongyi have witnessed an increase of 12,000 tonnes and 1,000 tonnes, in primary aluminium inventories to 240,000 tonnes and 56,000 tonnes, respectively. Meanwhile, in Chongqing and Linyi, primary aluminium inventories have remained restrained at 3,000 tonnes and 13,000 tonnes, respectively.
In Wuxi and Shanghai, primary aluminium inventories have decreased by 6,000 tonnes and 3,000 tonnes to stand at 324,000 tonnes and 89,000 tonnes, respectively. In Hangzhou and Tianjin, inventories have dropped 1,000 tonnes to peg at 90,000 tonnes and 61,000 tonnes.
Vedanta raises its aluminium ingot price by INR 3,750 on July 1
Next articleLME aluminium price trended up this week by US$61.50/t to settle at US$2519.50/t; SHFE price decreased by US$40/t
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