Primary aluminium inventories in China record a decline of 41,000 tonnes over the extended weekend

According to Shanghai Metals Market, the social inventories of primary aluminium ingots have declined over the holiday-extended weekend, as demand has displayed a slight improvement. The data shows the stocks across eight major consumption areas in China, including SHFE warrants, have decreased by 41,000 tonnes from 1.676 million tonnes on Thursday, April 2, to stand at 1.635 million tonnes, as of Tuesday, April 7. Compared to a week earlier when the inventories were at 1.664 million tonnes, the stocks today have plunged by 29,000 tonnes.

The chart below indicates the current status of primary aluminium inventories across China in more details:

From Thursday, April 2, the inventories in Nanhai and Gongyi have plunged by 28,000 tonnes and 17,000 tonnes, respectively, to stand at 403,000 tonnes and 174,000 tonnes. Wuxi has seen a marginal drop of 1,000 tonnes to 660,000 tonnes. In Shanghai, on the other hand, the inventories have increased by 2,000 tonnes to 171,000 tonnes, while that in Hangzhou, Tianjin, and Chongqing have grown by 1,000 tonnes to 144,000 tonnes, 57,000 tonnes, and 15,000 tonnes, respectively. In Linyi, however, the primary aluminium inventories have remained restrained at 11,000 tonnes.

On the rise in demand and decline in primary aluminium stocks, the price of A00 aluminium ingot has recorded a growth today of RMB 50 per tonne to stand at RMB 11,640 per tonne. This marks the second consecutive rise in A00 aluminium ingot price after the drop to RMB 11,300 per tonne on last Thursday, April 2.