Primary aluminium inventories extended gains on slow demand recovery

SHANGHAI, Feb 27 (SMM) – Social inventories of primary aluminium in China continued to trend higher this week, as demand recovered slowly amid the ongoing coronavirus outbreak.

SMM data showed that social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, increased 155,000 mt in the week ended February 27 to 1.385 million mt, compared to a build of 137,000 mt in the previous week.

Details:

Wuxi, Jiangsu – 527,000 mt

Shanghai – 121,000 mt

Nanhai, Guangdong – 326,000 mt

Gongyi, Henan – 210,000 mt

Hangzhou, Zhejiang – 120,000 mt

Tianjin – 57,000 mt

Linyi, Shandong – 13,000 mt

Chongqing –11,000 mt