China’s social inventories of primary aluminium rose 25,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to come in at 982,000 tonnes on Thursday, October 28. That marked the eighth consecutive week of rising, primarily contributed by higher arrivals of stocks in Wuxi, Shanghai, and Gongyi.
Last week, on October 21, China’s primary aluminium inventories grew sharply by 70,000 tonnes from the previous week to close at 957,000 tonnes.
The chart below indicates the current status of primary aluminium inventories across China in more detail:
Primary aluminium inventories in Wuxi increased the highest this week by 17,000 tonnes to 341,000 tonnes, followed by the rise of 6,000 tonnes in Gongyi to close at 90,000 tonnes. In Hangzhou and Linyi, primary aluminium inventories have gained 2,000 tonnes to come in at 87,000 tonnes and 17,000 tonnes, respectively, while the inventories in Shanghai have inched up by 1,000 tonnes to stand at 97,000 tonnes.
Meanwhile, in Nanhai, Tianjin, and Chongqing, primary aluminium inventories have dipped by 1,000 tonnes to settle at 279,000 tonnes, 69,000 tonnes, and 2,000 tonnes, respectively.
source https://www.alcircle.com/news/chinas-primary-aluminium-inventories-grow-for-two-straight-months-to-stand-at-982-000-tonnes-71746
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