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07 JULY 2022 AL CIRCLE

Primary aluminium inventories decline 11,000 tonnes W-o-W as downstream purchase grows on price fall

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 11,000 tonnes week-on-week across China's eight major consumption areas, following a restraint over the weekend on Monday, July 4. As per the SMM data, inventories as of July 7 have come in at 723,000 tonnes versus 734,000 tonnes on June 30.

Decline in inventories this week has primarily been contributed by Wuxi as some downstream buyers increased purchase on primary aluminium price fall to around RMB 18,000 per tonne over the past two days.

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

Primary aluminium inventories decline 11,000 tonnes W-o-W as downstream purchase grows on price fall

In Wuxi, primary aluminium inventories have plummeted by 19,000 tonnes week-on-week to come in at 245,000 tonnes, followed by a dip of 1,000 tonnes in Hangzhou and Tianjin to rest at 60,000 tonnes and 79,000 tonnes, respectively.

On the other hand, in Nanhai, Gongyi and Chongqing, primary aluminium inventories have gained 7,000 tonnes, 2,000 tonnes and 1,000 tonnes to total 184,000 tonnes, 99,000 tonnes, and 3,000 tonnes.

The World of Aluminium Extrusions

Meanwhile, in some provinces like Shanghai and Linyi, primary aluminium inventories have remained restrained at 36,000 tonnes and 17,000 tonnes, showed SMM.

Tagged with:

China SMM Inventory Price

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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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