
Echoing the lowering trend as of Thursday, June 4, the social inventories of primary aluminium again declined by 46,000 tonnes over the weekend ending Monday, June 8, across eight major Chinese consumption areas, including SHFE warrants, to stand at 801,000 tonnes, found Shanghai Metals Market. But compared to the last Monday, June 1, when the primary aluminium inventories dropped by 15,000 tonnes, the inventories over this weekend recorded a higher plunge.
The chart below indicates the current status of primary aluminium inventories across China in more details:
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Over the weekend, the primary aluminium inventories in Wuxi and Nanhai declined by 30,000 tonnes and 17,000 tonnes to stand at 296,000 tonnes and 119,000 tonnes, found SMM. In Chongqing, the stocks dropped 2,000 tonnes to come in at 7,000 tonnes. In Shanghai and Gongyi, on the other hand, the inventories grew 2,000 tonnes and 1,000 tonnes, respectively, to come in at 119,000 tonnes and 46,000 tonnes on Monday, June 8. In Hangzhou, Tianjin, and Linyi, however, the stocks have remained restrained at 106,000 tonnes, 57,000 tonnes, and 9,000 tonnes, respectively.
On the further decline in primary aluminium stocks, the price of A00 aluminium ingot jumped today by RMB 220 per tonne to stand at RMB 13,700 per tonne, learned SMM.
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