China’s primary aluminium inventory declines post the holiday
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.299 million tonnes as of Monday January 7, down 3,000 tonnes from Wednesday January 2. This followed after a week-on-week increase of 6,000 tonnes on Thursday December 27.
For the same period, stocks in Shanghai decreased by about 14,000 tonnes at stand at 302,000 tonnes while stocks in Nanhai increased by some 14,000 tonnes to stand at 161,000 tonnes.
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In Wuxi and Jiangsu, the inventory stood at 516,000 tonnes; in Gongyi, Henan and Hangzhou, Zhejiang, the inventory came in at 115,000 tonnes and 106,000 tonnes respectively.
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