China’s primary aluminium inventories shrink by 25,000t this week on increasing demand and limited stock arrivals

Further increase in demand among downstream producers and limited arrivals of stocks to warehouses have led to a loss of 25,000 tonnes in social primary aluminium inventories this week ending on Thursday, November 12, found the Shanghai Metals Market. SMM data shows the stocks have declined across eight major consumption areas in China, including SHFE warrants, to stand at 629,000 tonnes, as against 654,000 tonnes last week, on November 5.

The decline in primary aluminium inventories has, however, reduced week-on-week as the stock last week fell by 34,000 tonnes, learned SMM.

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

The inventories in Nanhai have reduced by 17,000 tonnes to stand at 184,000 tonnes, while that in Wuxi and Gongyi have plunged by 8,000 tonnes and 6,000 tonnes, respectively, to come in at 176,000 tonnes and 46,000 tonnes.

In Shanghai and Hangzhou, on the other hand, primary aluminium inventories have increased by 4,000 tonnes and 3,000 tonnes, respectively, to peg at 105,000 tonnes and 68,000 tonnes. In Chongqing and Linyi, the inventories have, however, remained restrained at 2,000 tonnes and 5,000 tonnes, respectively.