China’s primary aluminium inventories continue to grow W-o-W by 7,000 tonnes on August 1

China’s social inventories of primary aluminium continued to increase by 7,000 tonnes week-on-week as of Monday, August 1, found the Shanghai Metals Market. The inventories grew across eight major consumption areas, including SHFE warrants, to clock at 678,000 tonnes. However, compared to the same period last year, the inventories stood down by 81,000 tonnes, showed SMM data.

Given the poor willingness to purchase, primary aluminium social inventories are likely to grow further after shipments arrive in the future.

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

SMM data also showed that the increase in primary aluminium inventories could not touch upon all the provinces of China. Only Nanhai, Hangzhou, and Tianjin witnessed a rise in inventories on Monday. As per the SMM data, inventories in Nanhai gained 11,000 tonnes over the week to come in at 192,000 tonnes, while inventories in Hangzhou and Tianjin inched up by 1,000 tonnes to stand at 56,000 tonnes and 78,000 tonnes.

In Gongyi and Shanghai, primary aluminium inventories decreased by 5,000 tonnes and 1,000 tonnes, respectively, to stand at 69,000 tonnes and 36,000 tonnes. Meanwhile, in Wuxi, Chongqing, and Linyi, inventories remained restrained at 227,000 tonnes, 3,000 tonnes, and 17,000 tonnes.