Primary aluminium inventories in China up 45,000 tonnes on higher arrivals
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased 45,000 tonnes from Thursday February 21, Shanghai Metals Market data showed. As of Monday February 25, social stocks of primary aluminium stood at 1.72 million tonnes.
The chart below indicates the current status of the primary aluminium inventories across China:
Inventories in Wuxi, Jiangsu and Nanhai, Guangdong increased 6,000 tonnes and 22,000 tonnes from Thursday February 21 to 636,000 tonnes and 340,000 tonnes respectively. Stocks in Gongyi, Henan stood at 157,000 tonnes as of Monday February 25, up 19,000 tonnes from Thursday February 21.
Inventories in Shanghai and Hangzhou, Zhejiang dropped 2,000 tonnes to 312,000 tonnes and 149,000 tonnes respectively.
The reason for this increased in aluminium stocks could be higher arrivals at warehouses in Foshan of Guangdong province and Gongyi of Henan province.
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