Primary aluminium inventories rose 194,000 mt over CNY holiday

SHANGHAI, Feb 3 (SMM) – Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 884,000 mt as of Monday February 3, up 194,000 mt from January 23, showed SMM data.

The gain over the Lunar New Year holiday that was extended by three days to contain the novel coronavirus was 10,000 mt larger than that over the normal holiday last year. Major trading hubs like Wuxi, Hangzhou, Nanhai and Gongyi saw sharp gains over the holiday.  

Details:

Wuxi, Jiangsu – 320,000 mt

Shanghai – 105,000 mt

Nanhai, Guangdong – 186,000 mt

Gongyi, Henan – 100,000 mt

Hangzhou, Zhejiang – 96,000 mt

Tianjin – 58,000 mt

Linyi, Shandong – 8,000 mt

Chongqing –11,000 mt