Primary aluminium inventories in China stop destocking this weekend from 734,000 tonnes
According to the Shanghai Metals Market, social inventories of primary aluminium in China recorded a restraint this weekend, ending July 4, at 734,000 tonnes. After continued declines since June 21, primary aluminium inventories displayed no change over the weekend across eight major consumption areas, including SHFE warrants.
Last Thursday, June 30, primary aluminium inventories came in at 734,000 tonnes, seeing a downfall of 17,000 tonnes week-on-week.
However, some Chinese provinces have witnessed a few changes in inventories this weekend, such Wuxi, Nanhai, Gongyi and others. The chart below indicates the current status of inventories across China in more details:
Gongyi has seen a hike of 6,000 tonnes over the week in primary aluminium inventories to 103,000, while the inventories in Nanhai and Chongqing have inched up by 1,000 tonnes to 178,000 tonnes and 3,000 tonnes, respectively, as of July 4.
In Wuxi, on the other hand, primary aluminium inventories have seen a plunge of 8,000 tonnes over the weekend to 256,000 tonnes. Shanghai, Hangzhou, Tianjin and Linyi have remained muted at 36,000 tonnes, 61,000 tonnes, 80,000 tonnes and 17,000 tonnes, respectively.
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