Chinese primary aluminium inventories rise on new stocks arrivals in Guangdong

According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, rose 1,000 tonnes over the weekend ended on March 18 to come in at 1.755 million tonnes.

New arrivals of stocks in Guangdong in the amount of 13,000 tonnes contributed to the gains in overall stocks over the weekend.

However, compared to Thursday, March 14, the increase in primary aluminium inventories today was slower. On Thursday, the inventories had risen 5,000 tonnes from March 11, in contrast to the growth of 1,000 tonnes today.

In Wuxi, Jiangsu and in Shanghai, the inventories fell over the weekend from 628,000 tonnes and 313,000 tonnes to 623,000 tonnes and 312,000 tonnes. In Hangzhou, Zhejiang and in Tianjin, the inventories plunged too from 141,000 tonnes and 58,000 tonnes to 137,000 tonnes and 56,000 tonnes, respectively. But in Nanhai, Guandong and in Gongyi, Henan, the inventories increased from 402,000 tonnes and 146,000 tonnes to 415,000 tonnes and 147,000 tonnes.

The below given chart shows the current status of the primary aluminium inventories in more details:

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