Primary aluminium inventories in China fall 10,000 tonnes over weekend to total 626,000 tonnes

Social inventories of primary aluminium in China amounted to 626,000 tonnes across eight major consumption areas, including SHFE warrants, on Monday, October 24, according to the Shanghai Metals Market. SMM found the inventories decreased by 10,000 tonnes over the weekend but edged 6,000 tonnes higher than at the end of September. On a week-on-week basis, the inventories on October 24 were 38,000 tonnes lower than 664,000 tonnes.

The continued downfall in inventories could be attributed to hindered transportation due to COVID restrictions. The Gongyi Railway Station in Henan province is currently in lockdown, with cargoes being banned from entering or leaving.

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

In Gongyi and Nanhai, primary aluminium inventories plunged by 12,000 tonnes and 11,000 tonnes over the weekend to settle at 63,000 tonnes and 149,000 tonnes, respectively. In Chongqing and Shanghai, inventories inched down by 1,000 tonnes to total 1,000 tonnes and 42,000 tonnes, learned SMM.

On the other hand, primary aluminium inventories in Wuxi and Hangzhou gained 14,000 tonnes and 1,000 tonnes, respectively, to come in at 209,000 tonnes and 71,000 tonnes, while that in Tianjin and Linyi have remained restrained at 74,000 tonnes and 17,000 tonnes, respectively.