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.
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