Primary aluminium inventories in China hike by 90,000 tonnes to exceed 1 million tonnes on Feb. 17
According to the Shanghai Metals Market, social inventories of primary aluminium in China have built-up by 90,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Data shows the inventories have thus, come in at 1.04 million tonnes as of Thursday, February 17, mainly contributed by Wuxi, Gongyi, and Nanhai.
Last week, on February 10, China’s primary aluminium inventories stood at 950,000 tonnes, seeing a hike of 84,000 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 42,000 tonnes on February 17 to come in at 375,000 tonnes, followed by the rise of 24,000 tonnes in Gongyi to 164,000 tonnes. On the other hand, primary aluminium inventories in Nanhai have gained 21,000 tonnes to stand at 234,000 tonnes as of February 17. Tianjin and Hangzhou have seen a relatively slower hike of 3,000 tonnes and 2,000 tonnes, respectively, to settle at 77,000 tonnes and 88,000 tonnes.
Meanwhile, in Linyi, primary aluminium inventories have remained restrained at 23,000 tonnes, while inventories in Shanghai and Chongqing have dipped by 1,000 tonnes to settle at 71,000 tonnes and 7,000 tonnes, respectively.
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