Primary aluminium inventories in China continue to fall 26,000 tonnes to stand at 732,000 tonnes this week
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall on Thursday, August 5, albeit slower than the previous week. SMM found the inventories fell 26,000 tonnes week-on-week across China’s eight major consumption areas, including SHFE warrants, to come in at 732,000 tonnes.
Last week, on July 29, primary aluminium inventories stood at 758,000 tonnes, declining by 51,000 tonnes from the previous week.
The chart below indicates the current status of primary aluminium inventories across China in more details:
In Gongyi, primary aluminium inventories have seen the sharpest decline this week by 17,000 tonnes to 39,000 tonnes, while the inventories in Nanhai have decreased by 5,000 tonnes to come in at 195,000 tonnes as of August 5. In Hangzhou and Shanghai, primary aluminium inventories have slipped by 3,000 tonnes and 2,000 tonnes to peg at 84,000 tonnes and 77,000 tonnes, respectively.
Meanwhile, in Linyi, primary aluminium inventories have inched up by 1,000 tonnes to stand at 14,000 tonnes. On the other hand, inventories in Wuxi, Tianjin and Chongqing have remained restrained at 256,000 tonnes, 64,000 tonnes and 3,000 tonnes, respectively.
Vedanta continues to decrease aluminium ingot price by INR2000/t on Aug. 5 in line with further drop in LME aluminium price
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