Primary aluminium inventory extends decline in China
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.262 million tonnes as of Monday January 21, down 2,000 tonnes from Thursday January 17.
Compared to last Thursday, inventories in Wuxi, Jiangsu and Shanghai dropped by about 8,000 tonnes and 2,000 tonnes to stand at 484,000 tonnes and 299,000 tonnes while stocks in Nanhai, Guangdong increased by some 8,000 tonnes to stand at 167,000 tonnes. Inventory in Gongyi, Henan decreased to 102,000 tonnes.
The below chart indicates the current status of primary aluminium inventories across China:
Limited cargoes arrived at social warehouses during the weekend, and this accounted for the decline in primary aluminium inventories.
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