China’s primary aluminium inventories continue to grow W-o-W to settle at 887,000 tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium grew this week by 25,000 tonnes across eight major consumption areas, including SHFE warrants. On Thursday, October 14, inventories stood at 887,000 tonnes, primarily contributed by arrivals in Wuxi and Nanhai.
Last week, on October 7, the inventories were settled at 862,000 tonnes, gaining 47,000 tonnes week-on-week.
The chart below indicates the current status of primary aluminium inventories across China in more detail:
In Wuxi, primary aluminium inventories have sharply increased by 13,000 tonnes week-on-week to come in at 296,000 tonnes. In Nanhai, the inventories have climbed by 6,000 tonnes to 268,000 tonnes, and that in Gongyi have grown by 3,000 tonnes to 72,000 tonnes.
In Shanghai, Tianjin, and Linyi, social inventories of primary aluminium have inched up by 1,000 tonnes to close at 79,000 tonnes, 70,000 tonnes, and 15,000 tonnes, respectively. But in Hangzhou and Chongqing, the inventories have remained restrained at 84,000 tonnes and 3,000 tonnes, respectively.
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