China’s primary aluminium inventories gain 2,000 tonnes W-o-W after incessant declines

According to the Shanghai Metals Market, social inventories of primary aluminium in China totalled 1.04 million tonnes this week, as of March 31, 2022, across eight major consumption areas, including SHFE warrants. Compared to a week ago, March 24, primary aluminium inventories built up by 2,000 tonnes this week, but down by 11,000 tonnes from Monday, March 28.

On Monday, inventories in China gained 13,000 tonnes from 1.039 million tonnes on March 24 to come in at 1.052 million tonnes, found SMM.

But with no easing of the pandemic in sight any soon, China’s primary aluminium inventories are expected to dip next week amid the on-going production and supply disruptions.

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

In Wuxi, primary aluminium inventories hiked by 12,000 tonnes week-on-week to stand at 450,000 tonnes as of March 31, followed by the increase of 2,000 tonnes in Gongyi and Chongqing to come in at 133,000 tonnes and 8,000 tonnes, respectively. In Tianjin, inventories inched up by 1,000 tonnes to settle at 80,000 tonnes.

However, on the other hand, primary aluminium inventories in Nanhai decreased by 11,000 tonnes from the previous week to stand at 219,000 tonnes, while the inventories in Hangzhou declined by 4,000 tonnes to close the week at 70,000 tonnes.

In Shanghai and Linyi, primary aluminium inventories remained restrained at 61,000 tonnes and 20,000 tones, respectively.