
Social inventories of primary aluminium inventories across eight consumption areas in China, including SHFE warrants, declined by some 27,000 tonnes from Thursday October 18 to stand at 1.556 million tonnes as of Monday October 22, Shanghai Metals Market data showed. Limited cargoes arrived in social warehouses over the weekend and this accounted for the decline in stocks.
In some of the Chinese cities like Wuxi and Gongyi, Shanghai and Nanhai, Guangdong the inventories declined on the week. In Wuxi and Jiangsu, the inventory stood at 667,000 tonnes; in Shanghai and Nanhai, Guangdong, the inventory came in at 348,000 tonnes and 240,000 tonnes respectively. In Gongyi, Henan, the inventory stood at 102,000 tonnes.
{alcircleadd}The current inventory status in the major Chinese cities is as follows:

After a continuous fall for past three days in a row, the A00 aluminium ingot price in China today, on October 22, has recorded a hike by RMB 70 per tonne to stand at RMB 14120 per tonne. The average prices today are expected to range between RMB 14100 per tonne and RMB 14140 per tonne, with spot discounts to settle at RMB 60 to RMB 20 per tonne.

All the major markets in China have also recorded a hike today. In the east market, the price rose by RMB 45 per tonne to stand at RMB 14110 per tonne. The price is expected to range between RMB 14100 per tonne and RMB 14120 per tonne.
In the south and north, the prices increased by RMB 60 per tonne and RMB 85 per tonne to stand at RMB 14140 per tonne and RMB 14170 per tonne, respectively. In south, the price is expected to range between RMB 14120 per tonne and RMB 14160 per tonne; in north, the price is expected to range between RMB 14160 per tonne and RMB 14180 per tonne.
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