
According to Shanghai Metal Market data, China’s social inventory of primary aluminium including SHFE warrants stood at 1.76 million tonnes on Thursday February 1, slightly down by 2,000 tonnes from a week ago. Logistics constraints have impacted some deliveries in January. However, SMM learned that the situation will gradually improve in February. Average Aluminum Ingot prices slightly dropped today to stand at RMB 14,160 per tonne.

According to data released by the National Development and Reform Commission (NDRC) on Wednesday January 31, China’s production of 10 nonferrous metals amounted to 53.78 million tonnes in 2017, up 3% from a year ago. The annual growth was up 0.5 percentage point from the previous year. Aluminium output was up 1.6% to 32.27 million tonnes.
The prices are expected to move within a range of RMB 14,140-14,180. Spot discount will range within RMB 140-100 per tonne today. Among the domestic markets, A00 price in South China market remains the highest at RMB 14,605 per tonne. Details of aluminium inventory in the major Chinese cities as on January 31 are as follows:

Average prices of aluminium alloys remained flat in almost all markets today. Aluminium Alloy (A356) prices dropped to RMB 14,900 per tonne today. As for major raw materials are concerned, average Spot Alumina, Bauxite and Prebaked anode prices remain unchanged today. Imported Bauxite CIF China increased to USD 47.7 per tonne today.
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