Chalco further cuts aluminium prices; China’s stocks keep growing sharply

<p>China Aluminum International Trading Co. (Chalco Trading) has further cut aluminium prices it offered in China&rsquo;s major markets today.</p> <p>Unit: RMB/tonne</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Chalco%20price%20on%2011th%20August.png" alt="news" width="433" height="208" /></p> <p>Aluminium stocks in five major markets continued growing this week to new record highs, including SHFE aluminium stocks. Stocks in these five regions: Shanghai (275,000 tonnes), Wuxi (589,000 tonnes), Nanhai (325,000 tonnes), Hangzhou (90,000 tonnes) and Gongyi (94,000 tonnes) - totalled 1.37 million tonnes as on August 10, up 39,000 tonnes from a week ago, SMM data showed.&nbsp;&nbsp;</p> <p><a href="http://www.alcircle.com/primary_aluminium/newscircle/general/detail/28445/the-wait-is-over-alcircle-exclusive-report-on-potline-failure-now-available-for-purchase" target="_blank"><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/buynow.gif" alt="news" width="480" height="84" /></a></p> <p>Base metals on SHFE got a boost from rising ferrous and non-ferrous&nbsp;metals price on Thursday&rsquo;s night trading. According to SMM weekly price outlook, aluminium&nbsp;prices&nbsp;on the Shanghai Futures Exchange (SHFE) is expected to move within a range of RMB 16,000-16,250 tonnes today.</p>