Lower cargo arrivals continue to cause primary aluminium inventories downfall across China

Social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, stood at 613,000 tonnes, after being slipped by 8,000 tonnes or 1.29 per cent over the weekend from 621,000 tonnes, found the Shanghai Metals Market data. On a week-on-week calculation, the inventories fell by 13,000 tonnes from 626,000 tonnes on October 24. The continued decline in inventories could be attributed to the ongoing closure of Gongyi Railway Station as it had been hindering cargo arrivals.

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

According to SMM data, primary aluminium inventories in Wuxi decreased by 5,000 tonnes over this weekend ended October 31 to stand at 205,000 tonnes, followed by the downfall of 4,000 tonnes in Nanhai and Gongyi to peg at 142,000 tonnes and 57,000 tonnes, respectively.

On the other hand, inventories in Chongqing accumulated 3,000 tonnes to sum up at 4,000 tonnes on October 31, compared to 1,000 tonnes on October 27. In Linyi, Shanghai, and Tianjin, inventories remained restrained at 17,000 tonnes, 42,000 tonnes, and 74,000 tonnes, respectively.