China’s primary aluminium inventories drop by 3,000 tonnes on Thursday after two weekly hikes

On Thursday, April 14, China’s social inventories of primary aluminium dipped after two weekly hikes. The Shanghai Metals Market data showed the inventories dropped by 3,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to total 1.063 million tonnes. Last Thursday, April 7, the primary aluminium inventories stood at 1.066 million tonnes accumulating 25,000 tonnes over a week.

However, compared to this Monday, April 11, China’s primary aluminium inventories grew by 2,000 tonnes. Inventories on Monday fell by 5,000 tonnes from Thursday to come in at 1.061 million tonnes, showed SMM.

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

The decline in primary aluminium inventories on Thursday was mostly contributed by Nanhai and Gongyi, where stocked decreased by 12,000 tonnes to 200,000 and 120,000 tonnes, respectively. In Hangzhou, Linyi, and Chongqing, primary aluminium inventories dropped by 3,000 tonnes, 2,000 tonnes, and 1,000 tonnes, respectively, to come in at 66,000 tonnes, 18,000 tonnes, and 7,000 tonnes.

Meanwhile, inventories in Wuxi have increased by 27,000 tonnes to stand at 513,000 tonnes, while inventories in Shanghai and Tianjin have remained restrained at 59,000 tonnes and 80,000 tonnes, respectively.