Aluminium inventory decline continues to slow

SHANGHAI, Jul 5 (SMM) – The decline in China’s social inventory of primary aluminium continued to slow over the week ended July 5 as the slowdown in consumption suppressed purchasing interest downstream.

As of Thursday July 5, inventories of primary aluminium, including SHFE warrants, across eight major consumption areas shrank some 1,000 mt from Monday to stand at 1.83 million mt, after they lost 9,000 mt over the weekend. The figure fell 10,000 mt from last Thursday, compared to a drop of 40,000 mt in the previous week.

Details are as follows:

Wuxi, Jiangsu – 777,000 mt

Shanghai – 427,000 mt

Nanhai, Guangdong – 237,000 mt

Gongyi, Henan – 181,000 mt

Hangzhou, Zhejiang – 107,000 mt

Tianjin – 57,000 mt

Linyi, Shandong – 29,000 mt

Chongqing – 19,000 mt