China’s inventories of primary aluminium shrink 10,000 tonnes over weekend
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.041 million tonnes as of Monday July 1. This was down 10,000 tonnes from Thursday June 27, after a drop of 20,000 tonnes in the prior weekend between June 20 and 24, Shanghai Metals Market data showed.
The chart below indicates the current status of primary aluminium inventories across all major China markets:
Primary aluminium inventories in Wuxi, Jiangsu, and Shanghai dropped 13,000 tonnes and 1,000 tonnes to stand at 340,000 tonnes and 207,000 tonnes today. Inventories in Nanhai, Guangdong stood at 240,000 tonnes, down 6,000 tonnes from 246,000 tonnes on June 27.
Primary aluminium stocks in Gongyi, Henan and Hangzhou, Zhejiang increased from 101,000 tonnes and 60,000 tonnes to 105,000 tonnes and 62,000 tonnes. That was up 4,000 tonnes and 2,000 tonnes from Thursday June 27.
A00 aluminium ingot price in China dwindled over the week despite three intermittent hikes
Next articleBoth LME and SHFE aluminium continued downward trend on Friday night; likely to rise today on positive trade talks
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