Primary aluminium inventories in China grow after five consecutive weeks of decline; Inventories standing at 739,000 tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium gained 7,000 tonnes over the week across eight major consumption areas, including SHFE warrants. Thus, as of Thursday, August 12, primary aluminium inventories in China have come in at 739,000 tonnes.
China has witnessed the increased inventories this week after five consecutive weeks of downfall since July 8. Last Thursday, on August 5, China’s primary aluminium inventories stood at 732,000 tonnes, declining by 26,000 tonnes from the previous week.
The chart below indicates the current status of primary aluminium inventories across China in more details:
In Wuxi, primary aluminium inventories have increased by 12,000 tonnes week-on-week to stand at 268,000 tonnes, while the inventories in Nanhai and Tianjin have grown by 5,000 tonnes and 1,000 tonnes to come in at 200,000 tonnes and 65,000 tonnes, respectively.
Meanwhile, in Gongyi and Shanghai, primary aluminium inventories have decreased by 6,000 tonnes and 5,000 tonnes to close at 33,000 tonnes and 72,000 tonnes, respectively, while the inventories in other major markets have remained restrained.
Despite the overall growth today, the inventories are standing about 13.87 per cent lower month-on-month from 858,000 tonnes
Grow with
AL Circle
