Primary aluminium inventories gained 17,000 tonnes over the weekend ended March 23
According to Shanghai Metals Market, the social inventories of primary aluminium ingots rose by 17,000 tonnes over the weekend across eight major consumption areas in China, including SHFE warrants, as of Monday, March 23. The price thus, came in at 1.664 million tonnes, in contrast to 1.647 million tonnes on last Thursday, March 19.
The chart below indicates the current status of primary aluminium inventories across China in more details:
As the above chart shows, the inventories in Shanghai, Nanhai, Hangzhou, and Wuxi grew by 7,000 tonnes, 5,000 tonnes, 2,000 tonnes, and 1,000 tonnes, respectively, to stand at 158,000 tonnes, 432,000 tonnes, 132,000 tonnes, and 650,000 tonnes. In Chongqing, the inventories increased by 4,000 tonnes to 21,000 tonnes, while that in Gongyi have dropped by 2,000 tonnes. In Tianjin and Linyi, the stocks have remained unchanged at 57,000 tonnes and 12,000 tones, respectively, found SMM data.
As far as the A00 aluminium ingot price is concerned, it recorded a havoc downfall yesterday, March 23, of RMB 570 per tonne and came in at RMB 11,220 per tonne. Today, on March 24, it continued to remain the same.
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