China’s social inventories of primary aluminium loss 6000 tonnes this week to settle at 1.007 million tonnes

According to the Shanghai Metals Market, China’s social inventories of primary aluminium have dropped this week after more than two months of incessant hikes. Data shows the inventories have dipped by 6,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 1.007 million tonnes as of November 11, 2021.

On last Thursday, November 4, primary aluminium inventories stood at 1.01 million tonnes, climbing by 31,000 tonnes on week.

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

Primary aluminium inventories in Gongyi have seen a sharp decline of 12,000 tonnes week-on-week to come in at 78,000 tonnes as of November 11, followed by the plunge of 11,000 tonnes in Nanhai to 267,000 tonnes. In Shanghai and Tianjin, inventories have decreased 4,000 tonnes and 1,000 tonnes to settle at 97,000 tonnes and 68,000 tonnes, respectively.

Meanwhile, in Wuxi, primary aluminium inventories have surged by 20,000 tonnes to close at 382,000 tonnes on November 11. In Linyi, stocks have grown by 2,000 tonnes to 25,000 tonnes, while that in Hangzhou and Chongqing have remained restrained at 87,000 tonnes and 3,000 tonnes, respectively.