
Social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came in at 1.378 million tonnes as of Thursday January 31. This marked a growth of 75,000 tonnes from Thursday January 24, Shanghai Metals Market data showed.
For the same period, stocks in Wuxi, Jiangsu and Hangzhou, Zhejiang rose by 24,000 tonnes and 14,000 tonnes to stand at 513,000 tonnes and 131,000 tonnes. Stocks in Nanhai, Guangdong and Gongyi, Henan increased by 29,000 tonnes and 8,000 tonnes to stand at 211,000 tonnes and 127,000 tonnes.
{alcircleadd}The below chart indicates the current status of primary aluminium inventories across China:

Most downstream consumers began their Chinese New Year break and this accounted for the increase in primary aluminium inventories.
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