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17 DECEMBER 2018 AL CIRCLE

China's inventory of primary aluminium drops with smelter capacity cut; market prices remain unchanged today

EDITED BY : BEETHIKA BISWAS 1MINS READ

As reported by Shanghai Metals Market, China's social inventory of primary aluminium including SHFE warrants, across eight consumption areas continued its decline and stood at 1.28 million tonnes as of Monday December 17. This volume is about 18,000 tonnes less from the stock on Thursday December 13. The commissioning of new production capacity has slowed down as the prices are not gaining as expected. Last Thursday, supply cut at smelters lowered stocks by 57,000 tonnes on the week. 

The current inventory status in the major Chinese cities is as follows: 

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Average A00 Aluminum Ingot price stands at RMB 13540 per tonne today, flat after a drop on last Friday.  Spot Premium and Discount are ranging from RMB 10 to 30 per tonne, about RMB 10 higher than the last trading day.

As for input costs are concerned, average spot alumina price in China stands at RMB 3013 per tonne, flat from the last change on December 13. Chalco alumina price stands at RMB 3250 per tonne. Imported alumina price stands at RMB 3250 per tonne and Australian alumina FOB price stands at US$ 410 per tonne. All prices remain unchanged today.

Aluminum Alloys (ADC12) price also stands unchanged at RMB 15100 per tonne today.

 


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EDITED BY : BEETHIKA BISWAS 1MINS READ

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