
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.18 million tonnes as of Monday June 3. Primary aluminium stocks dropped 31,000 tonnes from 1.212 million tonnes on Thursday May 30, Shanghai Metals Market data showed.
Inventories continued to decline over the weekend, due to limited cargoes arrivals at social warehouses. Deliveries from warehouses also shrank during the weekend. The chart below indicates the current status of primary aluminium inventories across all major China markets:
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Primary aluminium stocks in Wuxi, Jiangsu stood at 422,000 tonnes as of Thursday May 30, a drop of 12,000 tonnes from 434,000 tonnes on Thursday May 30. Inventories in Shanghai and Nanhai, Guangdong, declined 8,000 tonnes and 4,000 tonnes from May 30 to 243,000 tonnes and 251,000 tonnes.
But the primary aluminium inventories in Gongyi, Henan increased 6,000 tonnes to stand at 88,000 tonnes on Monday. Stocks in Hangzhou, Zhejiang stood at 91,000 tonnes, down 7,000 tonnes from 98,000 tonnes on Thursday May 30.
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