Primary aluminium inventories in China fall sharply by 34,000 tonnes on November 5, 2020
According to the Shanghai Metals Market, social inventories of primary aluminium ingots have shrunk sharply this week, ending on Thursday, November 5, due to robust downstream demand and limited arrivals of stocks. Data shows the inventories have decreased by 34,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 654,000 tonnes. This marks the third consecutive week of decline.
Last week, on October 29, primary aluminium inventories declined by 7,000 tonnes to stand at 688,000 tonnes, following a decrease of 24,000 tonnes in the week ago, on October 22, to 695,000 tonnes.
The chart below indicates the current status of primary aluminium inventories across China in more details:
Wuxi and Gongyi have seen the highest plunge in primary aluminium inventories today of 13,000 tonnes to 184,000 tonnes and 52,000 tonnes, respectively. In Shanghai and Hangzhou, primary aluminium inventories have declined by 7,000 tonnes and 6,000 tonnes, respectively, to come in at 101,000 tonnes and 65,000 tonnes.
In Nanhai, however, the inventories have increased by 5,000 tonnes to stand at 201,000 tonnes, while that in Tianjin, Chongqing, and Linyi have recorded no change from 44,000 tonnes, 2,000 tonnes, and 5,000 tonnes, respectively, as of November 5.
NALCO further increases its aluminium ingot price by INR4,500/t with effect from November 4
Next articleHindalco’s aluminium ingot price increases for the third time in a row to stand at INR161,750/t w.e.f. Nov 4
Grow with
AL Circle
