China’s primary aluminium inventories continue to grow over weekend standing at 698,000 tonnes

According to the Shanghai Metals Market, China’s social inventories of primary aluminium ingot across eight major consumption areas, including SHFE warrants, accumulated 5,000 tonnes over the weekend to stand at 698,000 tonnes as of Monday, August 15. But compared to the same period last year, the inventories edged 44,000 tonnes lower, found the SMM data.

On Thursday, August 11, inventories stood at 693,000 tonnes across China, building up 15,000 tonnes over a week and 6,000 tonnes from Monday, August 8.

The chart below indicates the current status of primary aluminium inventories across China in more details:

In Gongyi, primary aluminium inventories rose 15,000 tonnes over the weekend ended August 15 to stand at 105,000 tonnes, while inventories in Tianjin inched up by 1,000 tonnes to come in at 79,000 tonnes.

On the other hand, inventories in Wuxi, Nanhai, and Chongqing have decreased by 6,000 tonnes, 3,000 tonnes, and 2,000 tonnes, respectively, to total 204,000 tonnes, 192,000 tonnes, and 5,000 tonnes, found SMM. Meanwhile, primary aluminium inventories in Shanghai, Hangzhou, and Linyi have remained restrained at 37,000 tonnes, 59,000 tonnes, and 17,000 tonnes.

Recently, production in Sichuan has been reduced due to power crisis, which may have a certain impact on the arrivals of cargoes in South China in the future. SMM will closely watch how output cuts in in some areas will affect arrivals in the market.