China’s inventories of primary aluminium decline 20,000 tonnes over weekend
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.04 million tonnes as of Monday August 26. Stocks dropped 20,000 tonnes from 1.063 million tonnes as of Thursday August 22.
Primary aluminium inventories extended their declines over the weekend as stocks in most areas posted declines. The chart below indicates the current status of primary aluminium inventories across all major China markets:
Primary aluminium stocks in Wuxi, Jiangsu and Shanghai dropped 10,000 tonnes and 2,000 tonnes from Thursday August 22 to 311,000 tonnes and 197,000 tonnes as of Monday, 26 August 2019. Inventories in Nanhai, Guangdong dropped 14,000 tonnes to 288,000 tonnes.
Gongyi, Henan rose 6,000 tonnes from August 22 to stand at 107,000 tonnes. Hangzhou, Zhejiang stood 56,000 tonnes, up 1,000 tonnes from 55,000 tonnes on Thursday August 22.Inventories in Tianjin, Linyi, Shandong, and Chongqing came in at 55,000 tonnes, 12,000 tonnes , and 17,000 tonnes, respectively.
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