China’s primary aluminium inventories grow slower this week to stand at 1.23 million tonnes
According to the Shanghai Metals Market, China’s primary aluminium ingot inventories have increased by 55,000 this week across eight major consumption areas, including SHFE warrants. Data shows the stocks have come in at 1.23 million tonnes on March 11 compared to 1.17 million tonnes on March 4.
SMM data found that primary aluminium ingot inventories this week have recorded a slower growth by 36,000 tonnes.
The chart below indicates the current status of primary aluminium inventories across China in more details:
In Nanhai, primary aluminium inventories have surged by 30,000 tonnes on March 11 to stand at 314,000 tonnes, followed by the hike in Wuxi by 15,000 tonnes to come in at 463,000 tonnes. In Chongqing and Shanghai, primary aluminium stocks have gained 4,000 tonnes and 3,000 tonnes to reach at 7,000 tonnes and 89,000 tonnes, while that in Tianjin and Linyi have inched up by 2,000 tonnes and 1,000 tonnes to 58,000 tonnes and 13,000 tonnes.
In Gongyi, primary aluminium ingot inventories have shrunk by 1,000 tonnes to peg at 187,000 tonnes, as of March 11, found SMM.
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