Primary aluminium inventories in China shrink by 23,000 tonnes on week to stand at 776,000 tonnes: SMM
According to the Shanghai Metals Market, social inventories of primary aluminium in China have decreased for the seventh week in a row by 23,000 tonnes across eight major consumption areas, including SHFE warrants. Thus, the inventories have come in at 776,000 tonnes as of Thursday, January 6.
Last week on December 30, primary aluminium inventories plunged by 65,000 tonnes to stand at 799,000 tonnes.
The chart below indicates the current status of primary aluminium inventories across China in more details:
In Wuxi, primary aluminium inventories have plunged by 11,000 tonnes week-on-week to stand at 275,000 tonnes as of January 6, followed by the decline of 5,000 tonnes in Gongyi to stand at 75,000 tonnes. In Nanhai and Shanghai, primary aluminium inventories have decreased by 4,000 tonnes to stand at 182,000 tonnes and 77,000 tonnes, respectively.
Meanwhile, primary aluminium inventories in Tianjin have inched up by 1,000 tonnes on week to settle at 68,000 tonnes, while that in Hangzhou, Linyi, and Chongqing have remained restrained at 74,000 tonnes, 23,000 tonnes, and 2,000 tonnes, respectively.
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