China’s primary aluminium inventories fall 19,000 tonnes W-o-W due to lower cargo arrivals

According to the Shanghai Metals Market, China’s social inventories of primary aluminium totalled 636,000 tonnes across eight major consumption areas, including SHFE warrants, as of Thursday, October 20. That was a downfall of 28,000 tonnes from Monday and 19,000 tonnes a week ago. On Monday, October 17, China’s primary aluminium inventories stood at 664,000 tonnes, witnessing an increase of 9,000 tonnes from 655,000 tonnes on Thursday, October 13.

On a year-on-year basis, China’s inventories as of October 20 edged 321,000 tonnes lower, as pandemic across many regions slowed transportation this year and resulted in fewer cargo arrivals.

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

In Nanhai, primary aluminium inventories plunged by 14,000 tonnes week-on-week on October 20 to stand at 160,000 tonnes, followed by a decline of 6,000 tonnes in Gongyi to 75,000 tonnes. In Wuxi and Chongqing, primary aluminium inventories dropped 2,000 tonnes over the week to settle at 195,000 tonnes and 2,000 tonnes, respectively.

Meanwhile, in Shanghai and Hangzhou, primary aluminium inventories increased by 4,000 tonnes and 1,000 tonnes, respectively, to come in at 43,000 tonnes and 70,000 tonnes, while that in Tianjin and Linyi remained restrained at 74,000 tonnes and 17,000 tonnes, found SMM.