China’s primary aluminium ingots inventories build up 60,000 tonnes over a week-long holiday

The Shanghai Metals Market found China’s social inventories of primary aluminium ingots increased significantly during the National Days holidays from October 1 to 8 on concentrated arrivals of cargoes. According to the data, primary aluminium inventories built up 60,000 tonnes over a week-long holiday across eight major consumption areas, including SHFE warrants, to come in at 715,000 tonnes, as of Friday, October 9.

Last week on Wednesday, September 30, primary aluminium inventories hovered at 655,000 tonnes after declining by 61,000 tonnes week-on-week. Primary aluminium inventories increased this week after two consecutive weeks of decline.

Given blow is the chart that indicates the current status of primary aluminium inventories across China in more details:

The Chinese city Nanhai saw the highest surge today in primary aluminium inventories by 28,000 tonnes to come in at 195,000 tonnes, followed by Hangzhou, where the inventories increased by 14,000 tonnes to 72,000 tonnes, as of October 9. In Wuxi and Shanghai, primary aluminium inventories climbed by 8,000 tonnes and 7,000 tonnes, respectively, to stand at 8,000 tonnes and 7,000 tonnes, and that in Gongyi and Tianjin increased by 2,000 tonnes and 1,000 tonnes to 58,000 tonnes and 46,000 tonnes.

Inventories in Chongqing and Linyi have, however, remained restrained at 3,000 tonnes and 5,000 tonnes, respectively.