China’s primary aluminium inventories extend growth by 9,000 tonnes on week
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.676 million tonnes in the week ended April 2. That was up 9,000 tonnes compared to a build of 20,000 tonnes in the previous week.
The chart below shows the current status of the primary aluminium inventories across China in more details:
Primary aluminium stocks in Shanghai and Wuxi increased by 11,000 tonnes and 9,000 tonnes from March 26 to stand at 169,000 tonnes and 661,000 tonnes on Thursday, 02 April 2020. Stocks in Hangzhou stood at 143,000 tonnes, an increase of 11,000 tonnes.
But the inventories in Nanhai, Gongyi, Chongqing dropped by 10,000 tonnes, 6,000 tonnes and 4,000 tonnes from last week to stand at 431,000 tonnes, 191,000 tonnes, and 14,000 tonnes.
Three-month LME aluminium extended its decline to a four-year low; SHFE aluminium slipped 1.21%
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