Recovering consumption caps gains in social inventories of primary aluminium

SHANGHAI, Mar 7 (SMM) – Growth of social inventories of primary aluminium ingots slowed further this week as consumption recovered.

SMM data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, rose some 5,000 mt from Thursday February 28 to stand at 1.749 million mt as of Thursday March 7.

Stocks expanded about 72,000 mt in the week ended February 28. They declined about 6,000 mt between Monday March 4 and Friday March 7.

Details:

Wuxi, Jiangsu – 639,000 mt

Shanghai – 313,000 mt

Nanhai, Guangdong – 374,000 mt

Gongyi, Henan – 156,000 mt

Hangzhou, Zhejiang – 147,000 mt

Tianjin – 57,000 mt

Linyi, Shandong – 31,000 mt

Chongqing –32,000 mt