Primary aluminium inventory falls faster on the week

Primary aluminium inventories across major consumption areas in China registered a faster decline on the week, with limited arrivals and downstream purchases.aluminium

Stocks across eight consumption areas, including SHFE warrants, shrank some 23,000 mt from Thursday August 16 to stand at 1.74 million mt as of Thursday August 23, SMM data showed. The decline was faster compared to the week-on-week drop of 14,000 mt last Thursday.

This week, limited railroad cars available in Xinjiang affected delivery of aluminium ingots from the area. Downstream processing plants also stepped up purchases as aluminium prices fell.

Details are as follows:

Wuxi, Jiangsu – 738,000 mt

Shanghai – 386,000 mt

Nanhai, Guangdong – 235,000 mt

Gongyi, Henan – 155,000 mt

Hangzhou, Zhejiang – 110,000 mt

Tianjin – 64,000 mt

Linyi, Shandong – 27,000 mt

Chongqing – 23,000 mt

Source: SMM