
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, extended their declines over the weekend and stood at 672,000 tonnes as of Monday December 9. That was down 33,000 tonnes from 705,000 tonnes on Thursday December 5.
Primary aluminium inventories dropped 50,000 tonnes in the previous week. The chart below shows the current status of the primary aluminium inventories across China in more details:
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Compared to last Thursday, inventories of primary aluminium in Wuxi, Shanghai, and Nanhai plunged by 10,000 tonnes,3,000 tonnes and 16,000 tonnes to stand at 206,000 tonnes, 127,000 tonnes and 168,000 tonnes. Linyi, Shandong stocks remained unchanged at 5,000 tonnes.
Inventories in Hangzhou, Zhejiang recorded a hike of 1,000 tonnes from Thursday. Stocks came in at 54,000 tonnes. Stocks of primary aluminium in Gongyi, Tianjin, and Chongqing dropped by 2,000 tonnes, 1,000 tonnes and 2,000 tonnes to come in at 41,000 tonnes, 52,000 tonnes, and 19,000 tonnes.
On Monday, 09 December 2019, A00 aluminium ingot price stood at RMB 14060 per tonne, marking a drop of RMB 10 per tonne or 0.07 per cent from Friday’s price of RMB 14070 per tonne. The price is expected to move within a range of RMB 14040-14080 per tonne.
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