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25 JUNE 2018 AL CIRCLE

China’s aluminium inventory sees marginal decline on lower consumption: A00 ingot price dips

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The primary aluminium inventory in China, including SHFE warrants, saw a slower decline over the weekend as environment probe deterred downstream consumption.

As of June 25, 2018, primary aluminium inventories across eight major consumption areas in China shrank 15,000 tonnes to stand at 1.87 million tonnes, compared to 1.88 million tonnes on last Thursday, June 21, 2018, Shanghai Metals Market observed. This indicates a drop of 32,000 tonnes recorded on last Tuesday, June 19, 2018, when the inventory was at 1.89 million tonnes.

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While in Wuxi and Jiangsu, the inventory dropped from 795,000 tonnes, as of June 21, to 789,000 tonnes on June 25; in Shanghai, the inventory remained unchanged and hovered at 433,000 tonnes. Other major Chinese cities like Nanhai and Guangdong and Linyi and Shandong also witnessed a little drop in inventories from Thursday and stood at  245,000 tonnes and 29,000 tonnes, respectively.

More details are as follows:

The average A00 aluminium ingot price plunged from RMB 14130 per tonne, as of June 22, to RMB 14120 per tonne on June 25, according to SMM. The prices are expected to range between RMB 14100 per tonne and RMB 14140 per tonne, with spot discount to settle at RMB 60 to RMB 20 per tonne.

However, in the east, the price remained unchanged at RMB 14095 per tonne, but in south and north, the prices dropped a bit from RMB 14230 per tonne to RMB 14215 per tonne and from RMB 14150 per tonne to RMB 14130 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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