Lower purchases grow aluminium inventories

SHANGHAI, Aug 27 (SMM) – Primary aluminium inventories across major consumption areas in China grew over the weekend as higher prices deterred some buyers from purchases, SMM research found.

Stocks across eight consumption areas, including SHFE warrants, increased by some 1,000 mt from Thursday to stand at 1.739 million mt as of Monday, SMM data showed.

Details are as follows:

Wuxi, Jiangsu – 734,000 mt

Shanghai – 387,000 mt

Nanhai, Guangdong – 235,000 mt

Gongyi, Henan – 157,000 mt

Hangzhou, Zhejiang – 110,000 mt

Tianjin – 64,000 mt

Linyi, Shandong – 28,000 mt

Chongqing – 24,000 mt