Primary aluminium inventories extended gains as demand has yet to recover

SHANGHAI, Feb 20 (SMM) – Social inventories of primary aluminium in China saw another solid gain this week, as demand has yet to recover 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 137,000 mt in the week ended February 20 to 1.23 million mt, compared to a build of 148,000 mt in the previous week.

Details:

Wuxi, Jiangsu – 447,000 mt

Shanghai – 111,000 mt

Nanhai, Guangdong – 258,000 mt

Gongyi, Henan – 209,000 mt

Hangzhou, Zhejiang – 125,000 mt

Tianjin – 57,000 mt

Linyi, Shandong – 12,000 mt

Chongqing –11,000 mt