China’s inventories of primary aluminium extend decline over weekend
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.234 million tonnes as of Monday May 27. Inventories dropped 48,000 tonnes from 1.282 million tonnes on Thursday, May 23, Shanghai Metals Market data showed.
Inventories of primary aluminium continued to decline over the weekend, due to limited arrivals and brisk demand. The chart below indicates the current status of primary aluminium inventories across all major China Markets.
Primary aluminium stocks in Wuxi, Jiangsu, declined 18,000 tonnes from Thursday, May 23 to stand at 443,000 tonnes. Stocks in Shanghai and Nanhai, Guangdong dropped from 265,000 tonnes and 261,000 on May 23 to stand at 259,000 tonnes and 253,000 tonnes today.
Social inventories of primary aluminium in Gongyi, Henan and Hangzhou, Zhejiang stood at 88,000 tonnes and 101,000 tonnes, down 6,000 tonnes and 7,000 tonnes from Thursday.
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