China’s inventories of primary aluminium extend decline over weekend
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.016 million tonnes as of Monday September 2, down by 17,000 tonnes from Thursday August 29.
Primary aluminium inventories continued to decline over the weekend, with all major warehouses, except for that in Gongyi of Henan, saw losses. 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 5,000 tonnes and 1,000 tonnes from Thursday August 29 to 304,000 tonnes and 193,000 tonnes as of Monday, September 2. Inventories in Nanhai, Guangdong stood at 282,000 tonnes, down 5,000 tonnes from Thursday.
Inventories in Gongyi, Henan rose 4,000 tonnes to stand at 109,000 tonnes today. Primary aluminium stocks in Hangzhou, Zhejiang came in at 51,000 tonnes, down 2,000 tonnes. Inventories in Tianjin, Linyi, Shandong, and Chongqing came in at 52,000 tonnes, 11,000 tonnes, and 14,000 tonnes, respectively.
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