As reported by Shanghai Metals Market, China's social inventories of primary aluminium across eight consumption areas including SHFE warrants amounted to 1.295 million tonnes as of Thursday December 13.This is down from 1.352 million tonnes recorded on Thursday December 6.
Supply cuts accounted for the 4.2% week-on-week decline that exceeded the 2.5% drop in the previous week, SMM data showed.
{alcircleadd}The below chart shows the current status of primary aluminium inventories across China as of December 13:
In another update from SMM, the A00 aluminium ingot price registered a drop from RMB 13550 per tonne to RMB 13540 per tonnes on Thursday, December 14.The average prices are expected to range between RMB 13,520 per tonne to RMB 13,560 per tonne.
In the east (Wuzi), the ingot price declined RMB 15 per tonne to stand at RMB 13,545 per tonne per tonne. In the east (Hangzhou), the ingot price remained unchanged at RMB 13575 per tonne. But the price in the south market increased RMB 20 per tonne to RMB 13700 per tonne today.
In the northeast and north, the prices dropped RMB 10 per tonne and RMB 50 per tonne to clock at RMB 13,545 per tonne and RMB 13,500 per tonne.
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