Primary aluminium inventories in China dip by 3,000 tonnes over the weekend

After the growth of 17,000 tonnes in primary aluminium inventories on last Monday and 20,000 tonnes on Thursday, the social inventories of primary aluminium have recorded a minor decline over the weekend ended Monday, March 30. The inventories over the weekend have dipped by 3,000 tonnes to come in at 1.664 million tonnes across eight major consumption areas in China, including SHFE warrants. On Thursday, March 26, the inventories were at 1.667 million tonnes.

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

In Gongyi, Nanhai, Chongqing, and Linyi, the inventories have decreased by 12,000 tonnes, 3,000 tonnes, and 1,000 tonnes respectively to stand at 185,000 tonnes, 438,000 tonnes, 15,000 tonnes, and 11,000 tonnes. In Wuxi and Shanghai, the primary aluminium stocks have increased by 2,000 tonnes and 6,000 tonnes to 654,000 tonnes and 164,000 tonnes, respectively, while that in Tianjin have remained restrained at 57,000 tonnes.

But this minor decline in primary aluminium inventories has failed to resist the drop in A00 aluminium ingot price. The latter has plunged by RMB 50 per tonne on March 30 to come in at RMB 11,470 per tonne.