Primary aluminium inventories built up 126,000 mt during CNY holiday

SMM data showed that China’s social inventories of aluminium across eight consumption areas fell 35,000 mt on the week.

Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, increased 61,000 mt from last Thursday to 775,000 mt as of February 10.

Nickel ore inventories across all Chinese ports decreased 260,000 wmt from January 15 to 8.61 million wmt as of January 22, showed SMM data.

Zinc inventories in China fell this week, with stocks in Shanghai and Tianjin decreasing relatively sharply.

Stocks of copper in Shanghai bonded areas increased slightly for two consecutive weeks on larger arrivals.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 15,000 mt from the prior week to 669,000 mt as of January 21. COVID-induced transport restrictions reduced arrivals of cargoes in Wuxi and Nanhai.

Primary aluminium ingot inventories in China rose this week, showed SMM data. 

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 3,000 mt from the prior week to 586,000 mt as of December 24, and Gongyi and Nanhai mainly contributed to the decline.

Inventories of hot-rolled coils of steel sheets used to produce home appliances and cars in China extended declines this week, and the decline expanded slightly compared with the prior week.

A total of 112 vessels carrying 16.8 million mt of iron ore arrived at major Chinese ports during December 13-19, SMM estimates. This was up 2.15 million mt from the previous week and 2.06 million mt from the same period last year. Arrivals at Tangshan port increased one million mt on the week.