Chinese primary aluminium inventory registers a growth of 39,000 tonnes
Social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came in at 1.303 million tonnes as of Thursday January 24. The figure is up by 39,000 tonnes from Thursday January 17, Shanghai Metals Market data showed.
For the same period, stocks in Nanhai, Guangdong and Gongyi, Henan increased by 23,000 tonnes and 9,000 tonnes to stand at 182,000 tonnes and 119,000 tonnes while stocks in Wuxi, Jiangsu and Shanghai reduced by 3,000 tonnes and 1,000 tonnes to stand at 489,000 tonnes and 300,000 tonnes.
The below chart indicates the current status of primary aluminium inventories across China:
The increase in primary aluminium inventory could be attributed to smaller purchases as most downstream plants have closed for Chinese New Year.
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