Chinese primary aluminium inventories slowed further as consumption recovered
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood 1.749 million tonnes as of Thursday March 7, up some 5,000 tonnes from Thursday February 28, Shanghai Metals Market data showed.
Inventories declined about 6,000 tonnes from Monday March 4. Growth of stocks of primary aluminium ingots slowed further this week as consumption recovered. The chart below indicates the current status of the primary aluminium inventories across China:
Compared with last Thursday, Inventories in Shanghai, Nanhai, Guangdong increased 3,000 tonnes and 22,000 tonnes to stand at 313,000 tonnes and 374,000 tonnes respectively. Stocks in Wuxi, Jiangsu and Gongyi, Henan stood at 639,000 tonnes and 156,000 tonnes as of Monday March 7, down 5,000 tonnes and 11,000 tonnes. Inventories in Hangzhou, Zhejiang decreased to 147,000 tonnes.
LME aluminium closed lower at US$ 1846/t; SHFE aluminium fell as most base metals weakened
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