China’s primary aluminium inventories continue to trend lower; A00 aluminium price stands at RMB 14440/t

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 597,000 tonnes as of Monday December 23, down by 7,000 tonnes from last Thursday December 19.

The current status of primary aluminium inventories across China is given in the chart below:

A00 aluminium ingot price registered a drop of RMB 10 per tonne on Monday, 23 December 2019, after rising for four consecutive days. The price stood at RMB 14440 per tonne. The price is expected to move within a range of RMB 14420-14460 per tonne. Spot aluminium price is likely to be traded at a premium of RMB 130-170 per tonne.

Source: Shanghai Metals Market

Aluminium ingot price in Foshan and Wuxi dropped by RMB 20 per tonne and RMB 15 per tonne to stand at RMB 14430 per tonne and RMB 14435 per tonne. The price is likely to range at RMB 14410-14450 per tonne and RMB 14430-14440 per tonne. Hangzhou price stood at RMB 14440 per tonne, down RMB 5 per tonne.

Aluminium ingot prices in Chongqing and Tianjin reduced by RMB 10 per tonne and RMB 20 per tonne to stand at RMB 14480 per tonne and RMB 14430 per tonne. Their average price is expected to move within a range of RMB 14460-14500 per tonne and RMB 14420-14440 per tonne.

The prices in Shenyang and Linyi remained unchanged at RMB 14390 per tonne and RMB 14430 per tonne. Aluminium ingot price in Gongyi was down by RMB 60 per tonne to RMB 14370 per tonne.