Primary aluminium inventories in China further shrink over the weekend to 682,000 tonnes

According to the Shanghai Metals Market, primary aluminium inventories continued to decrease over the weekend ended July 18 by 15,000 tonnes across eight major consumption areas in China, including SHFE warrants. As per the data, inventories came in at 682,000 tonnes as of July 18, compared to 697,000 tonnes on July 14. In comparison with the same period last year, primary aluminium inventories as of July 18 stood 148,000 tonnes lower, showed SMM.

The further downfall could be attributed to the purchase willingness among downstream buyers on aluminium price fall to around RMB 17,000 per tonne.

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

In Wuxi, primary aluminium inventories decreased by 7,000 tonnes over the weekend to come in at 228,000 tonnes on July 18, followed by the downfall of 6,000 tonnes in Nanhai to 174,000 tonnes. In Hangzhou and Gongyi, primary aluminium inventories inched down by 2,000 tonnes and 1,000 tonnes, respectively, to hover around 57,000 tonnes and 89,000 tonnes, showed SMM.

The World of Aluminium Extrusions

On the other hand, primary aluminium inventories in Chongqing inched up by 1,000 tonnes over the weekend to stand at 3,000 tonnes, while inventories in Tianjin, Shanghai, and Linyi remained restrained at 78,000 tonnes, 36,000 tonnes, and 17,000 tonnes, respectively.