China’s primary aluminium inventories gain 15,000 tonnes this week to stand at 766,000 tonnes: SMM
The social inventories of primary aluminium in China have built up by 15,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 766,000 tonnes as of September 16, found the Shanghai Metals Market. On the last Thursday, September 9, the inventories grew by only 2,000 tonnes to come in at 751,000 tonnes.
This week, the rise in inventories has been primarily contributed by Wuxi, Nanhai, and Gongyi.
The chart below indicates the current status of primary aluminium inventories across China in more detail:
In Wuxi, primary aluminium inventories have increased by 7,000 tonnes on the week to come in at 237,000 tonnes, while inventories in Nanhai and Gongyi have grown by 6,000 tonnes to peg at 226,000 tonnes and 66,000 tonnes, respectively.
Meanwhile, on the other hand, primary aluminium inventories in Shanghai have dropped by 2,000 tonnes to 71,000 tonnes, while stocks in Hangzhou and Chongqing have inched down by 1,000 tonnes to settle at 82,000 tonnes and 3,000 tonnes.
In Tianjin and Linyi, inventories have remained restrained at 67,000 tonnes and 14,000 tonnes, respectively.
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