Primary aluminium social inventories in China build-up 9000 tonnes over the weekend
According to the Shanghai Metals Market, social inventories of primary aluminium grew across China’s eight major consumption areas, including SHFE warrants, to total 484,000 tonnes. Over the weekend ended Monday, December 26, primary aluminium inventories accumulated 9,000 tonnes. Compared to last Monday, December 19, inventories this week edged 2,000 tonnes higher than 482,000 tonnes.
However, the figure stands 32,000 tonnes lower than at the end of November 2022 and 356,000 tonnes than the same period last year. To know the current status of primary aluminium inventories across China in more details, refer to the chart below:
This week, Wuxi contributed the highest to the growth in inventories by adding 14,000 tonnes from Thursday to total 103,000 tonnes, found SMM. In Gongyi, primary aluminium inventories increased by 4,000 tonnes to amount to 79,000 tonnes, while the inventories in Nanhai and Hangzhou suffered a loss of 8,000 tonnes and 1,000 tonnes to stand at 100,000 tonnes and 72,000 tonnes, respectively.
In Tianjin and Shanghai, primary aluminium inventories remained restrained at 73,000 tonnes and 38,000 tonnes, respectively, and so the inventories in Linyi and Chongqing at 16,000 tonnes and 3,000 tonnes.
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