Primary aluminium inventories in China gain 55,000 tonnes on lower consumption
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, gained 55,000 tonnes from Thursday February 14, Shanghai Metals Market data showed. As of Thursday February 21, social stocks of primary aluminium came in at 1.67 million tonnes. Consumption has not resumed completely, and this accounted for the expanded inventories.
The chart below indicates the current status of the primary aluminium inventories across China:
Inventories in Wuxi, Jiangsu and Nanhai, Guangdong increased 22,000 tonnes and 24,000 tonnes from Thursday February 14 to 630,000 tonnes and 318,000 tonnes respectively. Inventories of primary aluminium in Hangzhou, Zhejiang stood at 151,000 tonnes as of Thursday February 21, up 8,000 tonnes from Thursday February 14.
Inventories in Shanghai rose 2,000 tonnes to 314,000 tonnes, while stocks in Gongyi, Henan reduced 1,000 tonnes to 138,000 tonnes, from 145,000 tonnes.
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