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20 MAY 2021 AL CIRCLE

Primary aluminium inventories in China extend decline to 1.02 MT as purchase increases on price plunge

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Shanghai Metals Market found a week-on-week decline of 41,000 tonnes in primary aluminium ingot inventories to stand at 1.02 million tonnes as of Thursday, May 20. Stocks fell across eight major consumption areas in China except for Chongqing as the last two consecutive days of decrease in A00 aluminium ingot price has bolstered the purchase and consumption of primary aluminium.

Last Thursday, on May 13, primary aluminium inventories stood at 1.06 million tonnes, shrinking by 54,000 tonnes from the previous week.

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

Primary aluminium inventories in China extend decline to 1.02 MT as purchase increases on price plunge

Primary aluminium inventories in Nanhai have seen the highest plunge of 18,000 tonnes to come in at 242,000 tonnes on May 20, found SMM. Inventories in Gongyi have shrunk by 11,000 tonnes to 99,000 tonnes, while that in Hangzhou and Shanghai have slipped by 5,000 tonnes and 3,000 tonnes, respectively, to come in at 95,000 tonnes and 94,000 tonnes. Wuxi has seen a drop of 2,000 tonnes in inventories to 411,000 tonnes and Tianjin and Linyi have seen a dip of 1,000 tonnes to 59,000 tonnes and 14,000 tonnes, respectively.

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In Chongqing, however, primary aluminium inventories have recorded no change from 6,000 tonnes.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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