Decline in primary aluminium inventories slow down on the week

SHANGHAI, Aug 2 (SMM) – China's inventory of primary aluminium across eight major markets, including SHFE warrants, shrank 14,000 mt from last Thursday to stand at 1.78 million mt as of August 2, SMM data showed. 

Limited arrivals from smelters accounted for the drop. However, this was slower from a week-on-week drop of 28,000 mt recorded on Thursday July 26. During the week, inventories gained 1,000 mt from Monday July 30. 

Details are as follows:

Wuxi, Jiangsu – 760,000 mt

Shanghai – 414,000 mt

Nanhai, Guangdong – 229,000 mt

Gongyi, Henan – 163,000 mt

Hangzhou, Zhejiang – 111,000 mt

Tianjin – 53,000 mt

Linyi, Shandong – 27,000 mt

Chongqing – 24,000 mt