Primary aluminium inventories shrink by 6,000 tonnes on limited cargo arrivals

In contrast to Thursday, August 8, when the primary aluminium inventories increased by 1,000 tonnes, today, on August 12, the inventories shrank 6,000 tonnes to stand at 1.035 million tonnes, found Shanghai Metals Market.

Limited cargoes and steady consumption could be the two primary causes for this decline in inventories, as of August 12.

In Wuxi, Jiangsu, the inventory dipped 2,000 tonnes over the weekend to stand at 302,000 tonnes, while that in Gongyi Henan decreased 4,000 tonnes to come in at 110,000 tonnes. In Tianjin, Chongqing, and Linyi, Shandong, the primary aluminium inventories declined as well by 1,000 tonnes to peg at 50,000 tonnes, 24,000 tonnes, and 14,000 tonnes, respectively. In Shanghai, and Nanhai, Guangdong, on the other hand, the inventories rose 1,000 tonnes and 2,000 tonnes to clock at 203,000 tonnes and 276,000 tonnes, respectively.

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

Primary aluminium inventories shrink by 6,000 tonnes

Against the background of tight supply and primary aluminium inventories decline, the A00 aluminium ingot price has continued to grow by RMB 20 per tonne to RMB 13,950 per tonne, as of August 12.

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