China’s primary aluminium inventories reach 622,000 tonnes on Jan 9, with Wuxi contributing the highest

According to the Shanghai Metals Market, social inventories of primary aluminium accumulated 46,000 tonnes over the weekend across the eight major Chinese consumption areas, including SHFE warrants, as of Monday, January 9. The inventories have come in at 622,000 tonnes versus 576,000 tonnes on Thursday, January 5.

On a week-on-week basis, primary aluminium inventories edge 61,000 tonnes higher than 561,000 tonnes on January 3 and 128,000 tonnes up from the end of December. This indicates the primary aluminium inventory has entered a season growth cycle, with a cumulative increase of 145,000 tonnes in four weeks.

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

Wuxi has contributed most to the growth on Monday, building up 17,000 tonnes over the weekend to reach 165,000 tonnes. In Gongyi, primary aluminium inventories have increased by 13,000 tonnes from the last Thursday to stand at 118,000 tonnes, followed by a hike of 8,000 tonnes in Nanhai and 5,000 tonnes in Shaghai to hover around 119,000 tonnes and 42,000 tonnes, respectively. In Tianjin and Chongqing, primary aluminium inventories have inched up by 2,000 tonnes and 1,000 tonnes to peg at 75,000 tonnes and 5,000 tonnes as of January 9.

Meanwhile, in Hangzhou and Linyi, primary aluminium inventories have remained restrained at 74,000 tonnes and 24,000 tonnes, respectively.