Pre-holiday stockpiling accelerates decline in primary aluminium inventories

SHANGHAI, Sep 26 (SMM) – Social inventories of primary aluminium in China fell by a larger margin this week, as downstream consumers stepped up purchases ahead of the week-long National Day holiday.

SMM data showed that stocks across eight consumption areas in China, including SHFE warrants, decreased by 27,000 mt from a week ago to stand at 939,000 mt as of Thursday September 26.

The stocks have fallen for five weeks in a row, and shrank 6,000 mt in the prior week.

Wuxi, Jiangsu – 283,000 mt

Shanghai – 179,000 mt

Nanhai, Guangdong – 262,000 mt

Gongyi, Henan – 81,000 mt

Hangzhou, Zhejiang – 49,000 mt

Tianjin – 54,000 mt

Linyi, Shandong – 8,000 mt

Chongqing –23,000 mt