China’s primary aluminium inventories extend decline to 1.18 million tonnes this week
According to the Shanghai Metals Market, primary aluminium inventories in China extended decline this week by 45,000 tonnes across eight major consumption areas, including SHFE warrants, as of Thursday, April 15. Data showed the stocks stood at 1.18 million tonnes on April 15 in comparison with 1.23 million tonnes on last Thursday, April 8. Last week, primary aluminium inventories fell by 23,000 tonnes week-on-week, following a hike of 8,000 tonnes in the previous week.
The chart below indicates the current status of primary aluminium inventories across China in more details:
Gongyi saw the highest plunge in primary aluminium inventories by 27,000 tonnes to 148,000 tonnes on April 15, followed by the decline of 14,000 tonnes in Nanhai to 289,000 tonnes. Primary aluminium inventories in Wuxi decreased by 6,000 tonnes to stand at 466,000 tonnes, while the stocks in Shanghai and Chongqing remained restrained at 96,000 tonnes and 5,000 tonnes, respectively.
In Tianjin, on the other hand, primary aluminium inventories inched up by 1,000 tonnes to come in at 59,000 tonnes, found the Shanghai Metals Market.
LME aluminium benchmark price soared above US$2300/t level to stand at US$2328/t; SHFE price grew to US$2789/t
Next articleAlucam’s electricity bills remain unsettled since mid-2020, says ENEO Cameroon SA
Grow with
AL Circle
