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06 DECEMBER 2018 AL CIRCLE

Aluminium billet inventories in China drop on greater deliveries; ingot price extends decline

EDITED BY : HEENA IQBAL 2MINS READ

As reported by Shanghai Metals Market,, 6063 aluminium billet inventories across five major consumption areas in China dipped  some 3,100 tonnes over the weekend ended on Thursday, December 6, to stand at 117,900 tonnes. Deliveries from warehouses picked up after a decline, SMM learned. This came after slow downstream demand grew stocks by 3,400 tonnes on Thursday, November 29.

In Foshan, Guangdong and Wuxi, Jiangsu, the inventories dropped by some 1,800 tonnes and 3,600 tonnes to stand at 67,400 tonnes and 13,900 tonnes respectively. Inventories in Huzhou, Zhejiang, on the other hand, rose by around 3,000 tonnes and stood at 6,500 tonnes. For more details, refer to the chart below:

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Aluminium alloys (ADC12) price remained unchanged at average RMB 15,200 per tonne. The average price is expected to range between RMB 15,100 per tonne and RMB 15,300 per tonne.

The prices of Aluminium alloy (A356) stood at RMB 14,300 per tonne on December 6, down by RMB 50 per tonne from 14,500 per tonne. The average price is expected to range between RMB 14,250 per tonne and RMB 14,350 per tonne today.

In another update from SMM, primary aluminium inventories across eight major consumption areas in China, including SHFE warrants, stood at 1.352 million tonnes as of Thursday December 6, down 34,000 tonnes from Thursday November 29 and 15,000 tonnes from Monday December 3.

The below chart shows the current status of primary aluminium inventories across China as of December 6:

The average A00 aluminium ingot price decreased from RMB 13650 per tonne to RMB 13560 per tonne, as on December 6, 2018. The prices are expected to range between RMB 13540 and RMB 13580 per tonne with spot discounts to settle at RMB 50 to RMB 10 per tonne.

Aluminium ingot price in East(Wu Xi) reduced by RMB 95 per tonne to stand at RMB 13,560 per tonne while in the South and North, the prices shrank by RMB 90 per tonne and RMB 80 per tonne to stand at RMB 13,640 per tonne and RMB 13,560 per tonne, respectively.


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EDITED BY : HEENA IQBAL 2MINS READ

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