China’s primary aluminium inventories drop 32,000 tonnes to total 1.006 Mt on April 10

According to the Shanghai Metals Market, social inventories of primary aluminium in China across eight major consumption areas dropped 32,000 tonnes at the beginning of the week on April 10, 2023. Thus, according to SMM, the inventories totalled 1.006 million tonnes. On a week-on-week basis, the inventories fell 60,000 tonnes from 1.066 million tonnes. So far this month, China’s primary aluminium inventories lost 81,000 tonnes of stock.

The downfall could be attributed to a decline in the proportion of aluminium ingot output, which caused fewer arrivals of ingots in major markets. To know the current status of primary aluminium inventories across China, refer to the chart below:

Contributing the highest to the downfall of primary aluminium inventories on Monday, Wuxi experienced a loss of 17,000 tonnes to 361,000 tonnes, followed by the plunge of 12,000 tonnes in Nanhai to 219,000 tonnes. In Gongyi, Tianjin, and Hangzhou, primary aluminium inventories dropped 6,000 tonnes and 2,000 tonnes, respectively, settling at 189,000 tonnes, 72,000 tonnes, and 67,000 tonnes.

Meanwhile, in Shanghai, primary aluminium inventories climbed 6,000 tonnes to 59,000 tonnes as of April 10. In Chongqing and Linyi, on the other hand, primary aluminium inventories remained restrained at 10,000 tonnes and 29,000 tonnes, respectively.