Primary aluminium inventory in China declines on improved downstream consumption
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined over the weekend on improved downstream consumption. Social inventories of primary aluminium stood at 1.69 million tonnes as of Monday March 25.
Inventories dropped some 44,000 tonnes from Thursday March 21, Shanghai Metals Market data showed. The chart below indicates the current status of the primary aluminium inventories across China.
Inventories in major Chinese cities fell over the weekend. Stocks in Wuxi, Jiangsu and Shanghai dropped 14,000 tonnes and 6,000 tonnes from Thursday March 21, to 605,000 tonnes and 305,000 tonnes on Monday March 25.
Inventories in Nanhai, Guangdong stood at 394,000 tonnes. This was down 15,000 tonnes from Thursday March 21. Stocks in Gongyi, Henan dropped to 136,000 tonnes.
A strong US dollar weighed on both LME and SHFE aluminium on Friday; likely to trade rangebound today
Next articleUS Primary aluminium production up 20% to 891,000 tonnes in 2018 driven by reopening of smelters
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