Primary aluminium inventories extend decline over the weekend by 2000 tonnes on Nov. 28

According to the Shanghai Metals Market, social inventories of primary aluminium across China’s eight major consumption areas stood at 516,000 tonnes, reaching a new low on Monday, November 28. Over the weekend, the inventories edged 2,000 tonnes lower than 518,000 tonnes on Thursday, October 24, while over a week, the inventories recorded 14,000 tonnes less than 530,000 tonnes on November 21. The figure was also 97,000 tonnes lower than a month ago and 498,000 tonnes less than the same period last year.

The inventories in Gongyi and Wuxi only rose over the weekend by 6,000 tonnes and 3,000 tonnes, respectively, to come in at 69,000 tonnes and 122,000 tonnes as of November 28, driven by cargo arrivals and falling shipments out of warehouses. To know more about the current status of primary aluminium inventories across China, refer to the chart below:

In Nanhai and Hangzhou, primary aluminium inventories decreased by 7,000 tonnes and 2,000 tonnes, respectively, to hover around 118,000 tonnes and 71,000 tonnes, followed by a dip of 1,000 tonnes in Shanghai and Tianjin each to peg at 39,000 tonnes and 74,000 tonnes.

Meanwhile, in Chongqing and Linyi, inventories remained restrained at 5,000 tonnes and 18,000 tonnes, respectively, as of November 28.