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14 JUNE 2018 AL CIRCLE

China’s A00 ingot price grows on aluminium inventory dip for sixth consecutive week

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The primary aluminium inventory in China, including SHFE warrants, continued shrinking marking a sixth consecutive week of decline on June 14, 2018. Compared to the last Thursday when inventory stood at 1.98 million tonnes after shrinking 55,000 from its previous week, today, the inventory witnessed a downfall of 53,000 tonnes to stand at 1.92 million tonnes, according to Shanghai Metals Market.

Despite torrential downpours in Guangdong province during last weekend, overall inventory declined on the week due to fewer deliveries to warehouses in northwest China.

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Major Chinese cities like Wuxi and Jiangsu, Nanhai and Guangdong, Gongyi and Henan all witnessed a decline in their primary aluminium inventories. More details are as follows:

On the face of primary aluminium inventory decline in China, the average A00 aluminium ingot price reported a slight hike today, June 14, 2018, from RMB 14540 per tonne to RMB 14560 per tonne, according to SMM. The prices are expected to range between RMB 14540 per tonne and RMB 14580 per tonne, with spot discounts continue to settle at RMB 20 per tonne.

In the east, the average aluminium ingot price grew from RMB 14535 per tonne to RMB 14540 per tonne after a fall on the previous day from RMB 14725 per tonne to RMB 14535 per tonne, in the south the prices rose from RMB 14600 per tonne to RMB 14620 per tonne. In the north, however, the ingot price showed restraint and continued to remain same at RMB 14560 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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