Primary aluminium inventories across China reflect an increase of 10,000 tonnes over the weekend

Social inventories of aluminium ingot across China’s eight major consumption areas, including SHFE warrants, grew by 10,000 tonnes over the weekend ended Monday, September 19, to stand at 685,000 tonnes, found the Shanghai Metals Market. But compared to the previous Monday, September 12, the inventories on September 19 edged 11,000 tonnes lower than 696,000 tonnes.

The primary aluminium inventories on Thursday also reflected a decrease of 21,000 tonnes from Monday to amount to 675,000 tonnes, learned SMM. The inventories fluctuated greatly in the past two weeks due to concentrated arrivals of stocks during and after the holiday, while withdrawals from warehouses in main markets fell sharply to 113,800 tonnes owing to squeezed demand among downstream producers.

To know the current status of primary aluminium inventories across China in more details, refer to the chart below:

The inventories in Shanghai and Wuxi grew by 3,000 tonnes over the weekend to stand at 44,000 tonnes and 216,000 tonnes as of September 19, while Nanhai and Gongyi saw a rise of 2,000 tonnes to total 174,000 tonnes and 91,000 tonnes, respectively, attributing to curbed downstream buying willingness due to high primary aluminium prices.

Meanwhile, in Hangzhou, Tianjin, Chongqing, and Linyi, ingot inventories remained restrained over the week at 65,000 tonnes, 74,000 tonnes, 4,000 tonnes, and 17,000 tonnes, respectively.