China’s primary aluminium inventories loss 4000 tonnes this week ending on December 10
According to the Shanghai Metals Market, social inventories of primary aluminium in China have shrunk by 4,000 tonnes on Thursday, December 10, following a hike by the same amount last week. SMM data shows the inventories have dropped across eight major consumption areas, including SHFE warrants, to come in at 596,000 tonnes in comparison with 60,000 tonnes on December 3.
The chart below indicates the current status of primary aluminium inventories across China in more details:
The decline in primary aluminium inventories today, however, have not touched upon all the major Chinese cities except for Nanhai and Shanghai. While in the former, the inventories have decreased by 11,000 tonnes to stand at 141,000 tonnes, in the latter, the inventories have plunged by 2,000 tonnes to come in at 92,000 tonnes.
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In Hangzhou, primary aluminium inventories have increased by 4,000 tonnes to 72,000 tonnes, while that in Wuxi and Gongyi have hiked by 2,000 tonnes to stand, respectively, at 173,000 tonnes and 66,000 tonnes. In Tianjin, primary aluminium stocks have inched up by 1,000 tonnes to 45,000 tonnes, but in Chongqing and Linyi, the inventories have remained restrained at 2,000 tonnes and 5,000 tonnes, respectively.
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