China’s primary aluminium inventories grow week-on-week to 683,000 tonnes on September 1
According to the Shanghai Metals Market, social inventories of primary aluminium across eight major Chinese consumption areas, including SHFE warrants, have gained 4,000 tonnes over the week ended Thursday, September 1, to reach 683,000 tonnes. From Monday, August 29, the inventories are up by 1,000 tonnes; and higher by 5,000 tonnes than at the beginning of August.
The week-on-week increase in inventories on September 1 has primarily been contributed by Wuxi, while other provinces have either recorded downfall or remained restrained.
The chart below indicates the current status of primary aluminium inventories across China in more details:
In Wuxi, primary aluminium inventories have surged by 16,000 tonnes week-on-week to stand at 216,000 tonnes as of September 1, but that in Nanhai and Gongyi, inventories have decreased by 9,000 tonnes and 4,000 tonnes, respectively, arriving at 17,000 tonnes and 96,000 tonnes.
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In Chongqing, the inventories have inched up by 1,000 tonnes over the week to settle at 7,000 tonnes, while the provinces like Shanghai, Hangzhou, Tianjin, and Linyi have witnessed restraint at 37,000 tonnes, 62,000 tonnes, 78,000 tonnes, and 17,000 tonnes, respectively.
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