Primary aluminium inventories in China record a further W-o-W rise of 13,000 tonnes

According to Shanghai Metals Market, the social inventories of primary aluminium have extended their hike across eight major consumption areas in China, including SHFE warrants, on Thursday, August 6. The inventories have increased by 13,000 tonnes this week to come in at 725,000 tonnes versus the rise of 10,000 tonnes on last Thursday, July 30.

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

However, except Nanhai and Hangzhou, the increase in primary aluminium inventories has not touched upon all the major Chinese cities. In Nanhai, the social inventories of primary aluminium have grown by 20,000 tonnes to come in at 202,000 tonnes and that in Hangzhou have inched up by 3,000 tonnes to stand at 98,000 tonnes.

In Gongyi, Shanghai, and Wuxi, the inventories have plunged by 5,000 tonnes, 4,000 tonnes, and 1,000 tonnes, respectively, to stand at 32,000 tonnes, 114,000 tonnes, and 213,000 tonnes. In other cities like Tianjin, Chongqing, and Linyi, the inventories have remained restrained, respectively, at 58,000 tonnes, 3,000 tonnes, and 5,000 tonnes.

On the further rise in primary aluminium inventories, the A00 aluminium ingot price has recorded a sharp fall of RMB 270 per tonne to hover at 14,650 per tonne, as of Thursday, August 6, learned Shanghai Metals Market.