Primary aluminium inventories in China gain 4000 tonnes after six consecutive weeks of decline
According to the Shanghai Metals Market, primary aluminium inventories in China have built up this week ending on Thursday, December 3, after six consecutive weeks of downfall. SMM data shows the inventories have gained 4,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 600,000 tonnes.
On last Thursday, November 26, primary aluminium inventories were at 596,000 tonnes after declining by 19,000 tonnes week-on-week.
The chart below indicates the current status of primary aluminium inventories across China in more details:
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Primary aluminium inventories in Wuxi have increased the highest by 8,000 tonnes to stand at 171,000 tonnes, followed by the hike of 6,000 tonnes in Gongyi to peg at 64,000 tonnes. In Shanghai and Hangzhou, the inventories have grown by 1,000 tonnes to come in at 94,000 tonnes and 68,000 tonnes; but in Tianjin, Chongqing, and Linyi, the inventories have remained restrained, respectively, at 44,000 tonnes, 2,000 tonnes, and 5,000 tonnes.
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