
According to the Shanghai Metals Market, social inventories of primary aluminium have surged by 84,000 tonnes over the past three days across eight major consumption areas in China, including SHFE warrants, to come in at 950,000 tonnes as of Thursday, February 10.
On Monday, February 7, the inventories stood at 866,000 tonnes, compared to 726,000 tonnes on January 27. Last week, on February 3, the SMM market was closed for the Chinese New Year holiday.
{alcircleadd}The chart below indicates the current status of primary aluminium inventories across China in more details:

Primary aluminium inventories in Wuxi have soared by 48,000 tonnes to come in at 333,000 tonnes, followed by the surge of 23,000 tonnes in Gongyi to hover around 140,000 tonnes. In Nanhai, primary aluminium inventories have increased by 7,000 tonnes to stand at 213,000 tonnes, while inventories in Chongqing, Tianjin, and Shanghai have grown by 3,000 tonnes, 2,000 tonnes, and 1,000 tonnes, respectively, to hover around 8,000 tonnes, 74,000 tonnes, and 72,000 tonnes.
In Hangzhou and Linyi, however, primary aluminium inventories have remained restrained at 86,000 tonnes and 23,000 tonnes, respectively.
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