Primary aluminium inventories dip by 8,000 tonnes over weekend to 874,000 tonnes: SMM
Social inventories of primary aluminium in China have continued to decline by 8,000 tonnes over the weekend ended Monday, June 6, across eight major consumption areas, including SHFE warrants. According to the Shanghai Metals Market, the further decline in inventories has brought the total volume to 874,000 tonnes. The weekly shipment out of warehouses rose to 188,000 tonnes, a new high this year, leading to the drop in inventories.
The chart below indicates the current status of primary aluminium inventories across China in more details:
On June 6, decline in primary aluminium inventories has been led by Wuxi, wherein stocks have decreased by 19,000 tonnes over the weekend to amount to 358,000 tonnes. In Shanghai, inventories have declined by 10,000 tonnes to come in at 44,000 tonnes.
_0_0.jpg)
Meanwhile, in provinces like Gongyi, Nanhai, Chongqing and Hangzhou, primary aluminium inventories have increased over the weekend. For instance, inventories in Gongyi and Nanhai have built up by 13,000 tonne and 5,000 tonnes, respectively, to settle at 86,000 tonne and 223,000 tonnes, while that in Chongqing and Hangzhou, have inched up by 2,000 tonnes and 1,000 tonnes.
Vedanta Aluminium highlights its sustainable journey to green aluminium on the World Environment Day
Next articleLME aluminium benchmark price edges 1.5% higher to US$2742/t; SHFE price declines by US$16/t
Grow with
AL Circle
