According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall for the fourth week in a row, ending on Thursday, July 29. Extending the downfall by 51,000 tonnes week-on-week across eight consumption areas, including SHFE warrants, the inventories have come in at 758,000 tonnes.
Last week, on July 22, China’s primary aluminium inventories stood at 809,000 tonnes, declining by 23,000 tonnes from the previous week.
{alcircleadd}The chart below indicates the current status of primary aluminium inventories across China in more details:
Among all the major Chinese cities, Wuxi has seen the sharpest decline of 24,000 tonnes to 256,000 tonnes as of July 29, followed by the downfall of 12,000 tonnes in Nanhai to 200,000 tonnes and 10,000 tonnes in Gongyi to 56,000 tonnes. In Shanghai and Hangzhou, inventories have decreased by 4,000 tonnes and 2,000 tonnes, respectively, to come in at 79,000 tonnes and 87,000 tonnes.
Meanwhile, in Chongqing, primary aluminium inventories have built-up 1,000 tonnes to stand at 3,000 tonnes, while the inventories in Tianjin and Linyi have remained restrained at 64,000 tonnes and 13,000 tonnes, respectively.
Responses
