Primary aluminium inventories continue to trend lower; Decline by 44,000 tonnes this week

According to Shanghai Metals Market, the social inventories of primary aluminium in China continued to drop this week, with Guangdong contributing to more than half to the trend. Stocks across eight major consumption areas, including SHFE warrants, came in at 604,000 tonnes, as on Thursday, December 19, after declining by 44,000 tonnes.

On the last Thursday, December 12, the inventories had amounted to 648,000 tonnes after decreasing by 57,000 tonnes week-on-week.

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

In Wuxi, the inventories have declined by 14,000 tonnes over the week to come in at 193,000 tonnes, while that in Shanghai and Nanhai by 2,000 tonnes and 24,000 tonnes to stand at 119,000 tonnes and 131,000 tonnes. In many other major cities, the inventories have either remained restrained or grown marginally, such as in Chongqing and Linyi where the inventories have continued at 19,000 tonnes and 5,000 tonnes respectively. In Hangzhou and Tianjin, the stocks have grown by 1,000 tonnes and 2,000 tonnes respectively to come in at 54,000 tonnes.

On the continued decline in primary aluminium inventories, the A00 aluminium ingot price has further extended its growth by RMB 80 per tonne to stand at RMB 14,440 per tonne, as on December 19, found Shanghai Metals Market.