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29 OCTOBER 2018 AL CIRCLE

China’s aluminium inventory continues downward trend; A00 ingot price stands at RMB14120/t

EDITED BY : HEENA IQBAL 2MINS READ

Social inventories of primary aluminium inventories across eight consumption areas in China, including SHFE warrants, declined by some 10,000 tonnes from Thursday October 25 to stand at 1.528 million tonnes as of Monday October 29, Shanghai Metals Market data showed. The decline in inventories of primary aluminium was slower from the drop of 27,000 tonnes during Thursday, October 18 to last Monday, as aluminium producers stepped up operation.

In Wuxi and Jiangsu, the inventory declined to 663,000 tonnes today, from 669,000 tonnes on Thursday October 25; in Shanghai and Nanhai, Guangdong, the inventory came in at 347,000 tonnes and 229,000 tonnes respectively. In Gongyi, Henan, the inventory remained unchanged at 91,000 tonnes.

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

In another update from SMM, Average spot price of A00 aluminium ingot in China stands at RMB 14,120 per tonne today, up by RMB 30 per tonne from RMB 14090 per tonne on Friday, October 26. 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 80 to RMB 40 per tonne.

All the major markets in China also recorded an increase today. In the east market, the price rose by RMB 40 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 grew by RMB 60 per tonne and RMB 30 per tonne to stand at RMB 14230 per tonne and RMB 14130 per tonne, respectively. In south, the price is expected to range between RMB 14210 per tonne and RMB 14160 per tonne; in north, the price is expected to range between RMB 14120 per tonne and RMB 14140 per tonne.


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EDITED BY : HEENA IQBAL 2MINS READ

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