Primary aluminium inventories inch up by 2,000 tonnes to 726,000 tonnes on January 20
According to the Shanghai Metals Market, social inventories of primary aluminium in China have gained 2,000 tonnes this week ending January 20, 2022, across eight major consumption areas, including SHFE warrants. Therefore, the inventories have come in at 726,000 tonnes, compared to 724,000 tonnes on January 13.
Primary aluminium inventories have increased this week after the past eight consecutive weeks of decline since November 25.
The chart below indicates the current status of primary aluminium inventories across China in more details:
Gongyi and Nanhai are the two Chinese provinces that have primarily contributed to the primary aluminium inventories growth this week by adding up 9,000 tonnes and 7,000 tonnes, respectively, to 76,000 tonnes and 184,000 tonnes, as of January 20. In Hangzhou and Tianjin, primary aluminium inventories have grown by 4,000 tonnes and 1,000 tonnes to come in at 77,000 tonnes and 69,000 tonnes, learned SMM.
But on the other hand, primary aluminium inventories in Wuxi and Shanghai have decreased by 17,000 tonnes and 2,000 tonnes to settle at 225,000 tonnes and 69,000 tonnes. Inventories in Linyi and Chongqing have remained restrained at 23,000 tonnes and 3,000 tonnes, respectively.
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