Primary aluminium inventories in China gain 60,000 tonnes W-o-W to total 1.1 million tonnes

According to the Shanghai Metals Market, social inventories of primary aluminium have totalled 1.1 million tonnes, gaining 60,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. The smelters and traders were highly willing to make shipments, but the downstream demands were suppressed by increased aluminium prices.

The rise in inventories was mainly contributed by Gongyi, Wuxi, and Nanhai, found the Shanghai Metals Markets.

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

In Gongyi, primary aluminium inventories have built up by 25,000 tonnes week-on-week to come in at 189,000 tonnes, followed by the hike of 20,000 tonnes in Wuxi to 395,000 tonnes. In Nanhai, primary aluminium inventories have grown by 15,000 tonnes to stand at 249,000 tonnes, while inventories in Tianjin have inched up by only 1,000 tonnes to 78,000 tonnes.

Meanwhile, in Shanghai, primary aluminium inventories have shrunk by 1,000 tonnes from the previous week to peg at 70,000 tonnes, while inventories in Chongqing and Linyi have remained restrained at 7,000 tonnes and 23,000 tonnes, respectively.