China’s primary aluminium inventories extend downfall by 49,000 tonnes W-o-W to 825000 tonnes on June 13

China’s social inventories of primary aluminium decreased over the weekend by 28,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 825,000 tonnes on Monday, June 13, found the Shanghai Metals Market. On a week-on-week calculation, the inventories recorded a plunge of 49,000 tonnes or 5.61 per cent, showed SMM. This fall indicates the fact that the actual transaction situation is not as strong as the destocking trend.

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

In Nanhai and Wuxi, primary aluminium inventories plummeted by 16,000 tonnes and 15,000 tonnes over the weekend to stand at 203,000 tonnes and 333,000 tonnes, respectively. Over the week, the inventories in those two provinces nosedived by 20,000 tonnes and 25,000 tonnes on June 13. In provinces such as Shanghai and Chongqing, primary aluminium inventories dropped by 5,000 tonne and 1,000 tonnes compared to the stocks on June 9 and 6,000 tonnes and 2,000 tonnes a week ago to come in at 38,000 tonnes and 4,000 tonnes, respectively.

Meanwhile, in Gongyi, Tianjin, and Hangzhou, primary aluminium inventories gained 6,000 tonnes, 2,000 tonnes, and 1,000 tonnes from last Friday to 86,000 tonnes, 82,000 tonnes, and 62,000 tonnes, respectively. Only in Linyi, the inventories have remained restrained at 17,000 tonnes.