Primary aluminium inventories in China inch down by 3000 tonnes W-o-W to peg at 586,000 tonnes
According to the latest data shared by the Shanghai Metals Market, the social inventories of primary aluminium slipped by 3,000 tonnes over the week across eight major consumption areas on Thursday, December 24. Hence, the inventories are now standing at 586,000 tonnes compared to 589,000 tonnes on December 17.
Primary aluminium inventories on December 17 had decreased by 7,000 tonnes week-on-week across the eight major consumption areas. It was reported that some local aluminium ingots in Gongyi had flowed into East China due to the implementation of limited production for environmental protection.
The chart below indicates the current status of primary aluminium inventories across China in more details:
Primary aluminium inventories in Gongyi declined the highest by 17,000 tonnes to come in at 49,000 tonnes. In Nanhai and Linyi, the inventories plunged by 5,000 tonnes and 1,000 tonnes, respectively, to stand at 125,000 tonnes and 4,000 tonnes.
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In Wuxi, however, the inventories jumped by 20,000 tonnes over the week to peg at 198,000 tonnes, while that in Shanghai, Hangzhou, Tianjin, and Chongqing remained restrained at 91,000 tonnes, 71,000 tonnes, 46,000 tonnes, and 2,000 tonnes, respectively.
LME aluminium price settled 1.15% higher at US$2022/t; SHFE extended growth to US$2465/t
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