China’s A00 aluminium ingot inventories registered W-o-W growth of 3,000 tonnes last week

On Thursday, September 21, A00 aluminium ingot inventories in China settled at 522,000 tonnes, registering a week-on-week growth of 3,000 tonnes from 519,000 tonnes, found the Shanghai Metals Market data. However, from Monday, September 18, aluminium ingot inventories dwindled by 7,000 tonnes from 229,000 tonnes.

The week-on-week growth, primarily contributed by Shanghai and Wuxi could be attributed to no significant demand from downstream pre-holidaying stockpiling and limited cargo pickup from warehouses in South & East China.

To know the status of primary aluminium inventories across China as of September 21, refer to the chart below:

In Shanghai, primary aluminium inventories on September 21 witnessed a hike of 10,000 tonnes W-o-W to stand at 58,000 tonnes, followed by the rise of 7,000 tonnes in Wuxi to 103,000 tonnes. From Monday, September 18, inventories in Shanghai grew by 7,000 tonnes, while in Wuxi remained restrained.

On a week-on-week calculation, primary aluminium inventories in Nanhai, Hangzhou, and Linyi remained muted at 157,000 tonnes, 65,000 tonnes, and 16,000 tonnes, respectively. In Gongyi, on the other hand, inventories plunged by 16,000 tonnes week-on-week to 48,000 tonnes as of September 21. From September 18, the inventories fell by 9,000 tonnes compared to 57,000 tonnes.

In Tianjin and Chongqing, primary aluminium inventories slightly grew by 1,000 tonnes week-on-week to 69,000 tonnes and 6,000 tonnes, respectively.

Source: SMM