Primary aluminium inventories expand decline over the weekend to 924,000 tonnes

According to Shanghai Metals Market, social inventories of primary aluminium ingots have expanded decline over the weekend ending May 25, owing to stable demand and limited arrivals of stocks to warehouses. SMM data found that the inventories of primary aluminium have decreased by 55,000 tonnes across eight major consumption areas in China, including SHFE warrant, to stand at 924,000 tonnes, as of Monday, May 25.

On last Thursday, May 21, the primary aluminium inventories were at 979,000 tonnes after declining by 79,000 tonnes. This represents the fact that the decline in primary aluminium inventories over the weekend slowed by 24,000 tonnes.

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

Wuxi has seen the highest fall in primary aluminium inventories today of 29,000 tonnes to 373,000 tonnes on May 25. In Nanhai, the inventories have fallen by 17,000 tonnes to stand at 184,000 tonnes, while that in Gongyi and Shanghai have dwindled by 4,000 tonnes and 3,000 tonnes to hover at 52,000 tonnes and 128,000 tonnes, respectively. Hangzhou has seen a marginal downfall of 1,000 tonnes in inventories to 111,000 tonnes. In Tianjin, Chongqing, and Linyi, however, the inventories have remained restrained over the weekend.

On this continued decline in primary aluminium stocks, the A00 aluminium ingot price has grown by RMB 110 per tonne to RMB 13,260 per tonne, found Shanghai Metals Market.