Primary aluminium inventories in China continue to fall sharply by 86,000 tonnes on May 28

China's social inventories of primary aluminium ingots have expanded their decline today, on May 28, by 7,000 tonnes from the previous week, found Shanghai Metals Market. Last week, on May 21, the inventories plunged by 79,000 tonnes, whereas this week they fell by 86,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 893,000 tonnes.

This continuous fall in primary aluminium inventories could be attributed to the lower supplies to warehouses in comparison with consumption.

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

Wuxi, among all the major Chinese cities, has seen the highest decline of 48,000 tonnes to stand at 354,000 tonnes on May 28, followed by the decline of 21,000 tonnes in Nanhai to hover at 180,000 tonnes. In Shanghai, Gongyi, and Hangzhou, the inventories have decreased by 8,000 tonnes, 5,000 tonnes, and 4,000 tonnes from the previous week to come in at 123,000 tonnes, 51,000 tonnes, and 108,000 tonnes, respectively.

In other cities like Tianjin, Chongqing, and Linyi, the primary aluminium inventories have remained restrained at 58,000 tonnes, 11,000 tonnes, and 8,000 tonnes, respectively.

On this sharp fall in primary aluminium inventories, the A00 aluminium ingot price has climbed by RMB 100 per tonne to stand at RMB 13,450 per tonne on May 28, found Shanghai Metals Market.