China’s primary aluminium inventories further accumulate 25000 tonnes this week to total at 1.066 Mt
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to grow this week by 25,000 tonnes across eight major consumption areas, including SHFE warrants. Thus, SMM data shows the inventories have come in at 1.066 million tonnes, as of Thursday, April 7, compared to 1.041 million tonnes a week ago, March 31.
The rise in China’s week-on-week primary aluminium inventories is contributed by disrupted local transportation causing irregular shipments.
The chart below indicates the current status of primary aluminium inventories across China in more details:
As the above data demonstrates, Wuxi has seen a build-up this week of 36,000 tonnes to stand at 486,000 tonnes, while the provinces have either seen downfalls or restraints this week. For instance, inventories in Nanhai have declined by 7,000 tonnes W-o-W to stand at 212,000 tonnes, followed by the drop of 2,000 tonnes in Shanghai to 59,000 tonnes and 1,000 tonnes in Hangzhou and Gongyi, separately, to come in at 69,000 tonnes and 132,000 tonnes, respectively.
Meanwhile, in Tianjin, Chongqing and Linyi, primary aluminium inventories have remained restrained at 80,000 tonnes, 8,000 tonnes and 20,000 tonnes, respectively, as of April 7, 2022.
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