Primary aluminium inventories increase by 14,000 tonnes after a week of restraint

After remaining restrained at 610,000 tonnes last week, the social inventories of primary aluminium on Monday, January 13, increased by 14,000 tonnes across eight consumption areas in China, including SHFE warrants, to stand at 624,000 tonnes, according to Shanghai Metals Market. Rise in primary aluminium inventories was last on January 2 by 18,000 tonnes to 610,000 tonnes, followed by the previous growth of 2,000 tonnes to 594,000 tonnes.

The chart below indicates the current status of primary aluminium inventories across China in more details:

In Wuxi, Gongyi, Hangzhou, Tianjin, and Chongqing, the inventories have increased by 5,000 tonnes, 7,000 tonnes, and 1,000 tonnes from last Thursday, January 9, to stand at 197,000 tonnes, 56,000 tonnes, 60,000 tonnes, and 14,000 tonnes respectively. In Nanhai, Shanghai, Linyi, however, the inventories have declined by 3,000 tonnes and 1,000 tonnes respectively to come in at 126,000 tonnes, 108,000 tonnes, and 6,000 tonnes.

On this rise of inventories, the A00 aluminium ingot price has recorded a fall of RMB 130 per tonne to RMB 14,400 per tonne, as of January 13, found Shanghai Metals Market. The price is expected to move within a range of RMB 14380-14420 per tonne.