China’s primary aluminium inventories plunge by 52,000 tonnes to settle at 724,000 tonnes this week

According to the Shanghai Metals Market, social inventories of primary aluminium in China have continued to decrease by 52,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Further plunge has brought the inventories to 724,000 tonnes as of Thursday, January 13, mainly contributed by Shanghai, Wuxi, Nanhai, Hangzhou, and Gongyi.

Last week, on January 6, China’s primary aluminium inventories shrank by 23,000 tonnes to come in at 776,000 tonnes.

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

In Wuxi, primary aluminium inventories have plunged by 33,000 tonnes on week to stand at 242,000 tonnes as of January 13, followed by the decline of 8,000 tonnes in Gongyi to come in at 67,000 tonnes. In Shanghai and Nanhai, primary aluminium inventories have dropped by 6,000 tonnes and 5,000 tonnes, respectively, to hover around 71,000 tonnes and 177,000 tonnes. In Tianjin, inventories inched down by only 1,000 tonnes to settle at 73,000 tonnes.

Meanwhile, in Chongqing, primary aluminium inventories gained 1,000 tonnes to come in at 3,000 tonnes, while that in Tianjin and Linyi have remained restrained at 68,000 tonnes and 23,000 tonnes, respectively.