
According to Shanghai Metals Market, social inventories of primary aluminium have built-up 32,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows the inventories are standing at 714,000 tonnes as of February 4, the highest since October 15, 2020.
Last week, on January 28, primary aluminium inventories came in at 682,000 tonnes, gaining 13,000 tonnes over the week. This shows the hike in primary aluminium inventories has expanded by 19,000 tonnes this week, ending on Thursday, February 4.
{alcircleadd}The chart below indicates the current status of primary aluminium inventories across China in more details:

In Gongyi and Hangzhou, primary aluminium inventories increased 18,000 tonnes and 10,000 tonnes, respectively, to come in at 87,000 tonnes and 77,000 tonnes on February 4, according to SMM. In Wuxi, the stocks have grown by 4,000 tonnes to 251,000 tonnes, and that in Tianjin and Linyi has inched up by 1,000 tonnes to stand at 50,000 tonnes and 8,000 tonnes, respectively.
In Shanghai, on the other hand, primary aluminium inventories have recorded a decrease of 2,000 tonnes to 75,000 tonnes, while the stocks in Nanhai and Chongqing have remained restrained at 164,000 tonnes and 2,000 tonnes, respectively.
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