China’s inventories of primary aluminium extend decline over weekend on greater deliveries
According to Shanghai Metals Market, primary aluminium inventories continued to decline over the weekend, as deliveries exceeded arrivals. Stocks of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 957,000 tonnes as of Monday September 23, down 9,000 tonnes from 966,000 tonnes as of Thursday September 19.
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 8,000 tonnes and 2,000 tonnes from Thursday September 19 to 289,000 tonnes and 184,000 tonnes as of Monday, September 23. Inventories in Nanhai, Guangdong stood at 263,000 tonnes, down 4,000 tonnes from Thursday’s total of 267,000 tonnes.
In some areas like Gongyi, Henan, Hangzhou, Zhejiang, and Chongqing, the inventories climbed by 1,000 tonnes each to 85,000 tonnes, 51,000 tonnes, and 22,000 tonnes, respectively. Primary aluminium stocks in Tianjin rose by 2,000 tonnes to 54,000 tonnes today. In Linyi, Shandong, stocks remained unchanged at 9,000 tonnes.
Both LME and SHFE aluminium traded in a tight range on Friday night; likely to trade higher today
Next articleAluminum Association hosted leaders from the fellow aluminium associations in a meeting during ALUMINUM USA 2019
Grow with
AL Circle
