Primary aluminium inventories in China shrink by 24,000 tonnes on October 22: SMM
According to the Shanghai Metals Market, primary aluminium inventories in China have shrunk by 24,000 tonnes this week, ending on Thursday, October 22. Data shows the inventories have declined across eight major consumption areas, including SHFE warrants, to stand at 695,000 tonnes versus 719,000 tonnes last week, October 15.
The chart below shows the current status of primary aluminium inventories across China in more details:
In Wuxi, primary aluminium inventories have decreased by 13,000 tonnes to stand at 208,000 tonnes, followed by the fall of 7,000 tonnes in Shanghai to 111,000 tonnes. In Nanhai, the inventories have inched down by 3,000 tonnes to come in at 197,000 tonnes, while that in Hangzhou and Tianjin have dipped by 1,000 tonnes to stand at 72,000 tonnes and 45,000 tonnes, respectively.
In Gongyi, on the other hand, primary aluminium inventories have grown by 1,000 tonnes to 54,000 tonnes, while that in Chongqing and Linyi have remained restrained at 3,000 tonnes and 5,000 tonnes, respectively.
Vedanta’s aluminium ingot price stands at INR 153,750-166,750/t with effect from October 22
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