Primary aluminium inventories in China decline by 15,000 tonnes over the week to 1 million tonnes on December 2
China’s social inventories of primary aluminium have continued to decrease for the second week in a row ending December 2, 2021, by 15,000 tonnes, found the Shanghai Metals Market. SMM data shows the inventories have declined across eight major consumption areas, including SHFE warrants, to come in at 1 million tonnes, as of Thursday, December 2.
The decline in primary aluminium inventories this week is mainly contributed by Nanhai and Wuxi.
The chart below indicates the current status of primary aluminium inventories across China in more detail:
In Nanhai and Wuxi, primary aluminium inventories have plunged by 13,000 tonnes and 8,000 tonnes, respectively, to stand at 233,000 tonnes and 403,000 tonnes, as of December 2. In Shanghai, Hangzhou, and Tianjin, inventories have dropped by 1,000 tonnes to settle at 94,000 tonnes, 86,000 tonnes, and 68,000 tonnes, learned SMM.
In Chongqing and Linyi, on the other hand, primary aluminium inventories have recorded no change this week from 2,000 tonnes and 24,000 tonnes, respectively.
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