China’s primary aluminium inventories rise by 2,000 tonnes over weekend

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased over the weekend stood at 594,000 tonnes as of Monday December 30. Stocks were up by 2,000 tonnes from last Thursday December 26.

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

Primary aluminium stocks in Nanhai and Gongyi stood at 127,000 tonnes and 40,000 tonnes on Monday, up 1,000 tonnes and 4,000 tonnes from December 26. Hangzhou, Zhejiang inventories remained the same at 52,000 tonnes. But the stocks in Wuxi and Shanghai dropped by 4,000 tonnes and 2,000 tonnes to 187,000 tonnes and 110,000 tonnes.

Inventories of primary aluminium in Tianjin, Linyi and Chongqing came in at 57,000 tonnes, 6,000 tonnes, and 15,000 tonnes, an increase of 1,000 tonnes each.  

A00 aluminium ingot price rose by RMB 80 per tonne to stand at RMB 14,510 per tonne on Monday, 30 December 2019 after two consecutive downfalls on December 26 and December 27. The average price is expected to move within a range of RMB 14,490 per tonne and RMB 14,530 per tonne.