Primary aluminium inventories in China plunge by 21,000 tonnes this week to stand at 1.02 million tonnes
China’s social inventories of primary aluminium have decreased by 21,000 tonnes week-on-week on Thursday, November 25, following a hike last week. According to the Shanghai Metals Market, the inventories this week have totalled 1.02 million tonnes across eight major consumption areas, including SHFE warrants.
On last Thursday, November 18, China’s primary aluminium inventories stood at 1.038 million tonnes, gaining a significant volume of 31,000 tonnes week-on-week.
The chart below indicates the current status of primary aluminium inventories across China in more detail:
In Nanhai, primary aluminium inventories have plummeted by 12,000 tonnes week-on-week to stand at 246,000 tonnes on November 25. In Gongyi and Shanghai, primary aluminium inventories have plunged by 8,000 tonnes and 6,000 tonnes, respectively, to settle at 83,000 tonnes and 95,000 tonnes, while the inventories in Hangzhou and Chongqing have inched down by 1,000 tonnes to close at 87,000 tonnes and 2,000 tonnes.
Meanwhile, primary aluminium inventories in Wuxi and Tianjin have increased by 5,000 tonnes and 2,000 tonnes, respectively, to peg at 411,000 tonnes and 69,000 tonnes, learned SMM.
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