China’s primary aluminium inventories decline by 21,000 tonnes; A00 aluminium ingot price registers a drop after three days
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 895,000 tonnes as of Monday, 21 October 2019, down 21,000 tonnes from Thursday October 17.
Primary aluminium inventories continued to decline as outflows grew in most areas. The current status of primary aluminium inventories across China is given in the chart below:
After a continuous rise for the past three days in a row, A00 aluminium ingot price on Monday dropped by RMB 40 per tonne from Thursday’s price of RMB 14000 per tonne. The price stood at RMB 13960 per tonne and expected to move within a range of RMB 13940-13980.
Aluminium ingot price in Foshan decreased by RMB 40 per tonne to stand at RMB 13920 per tonne. Ingot prices in Wuxi and Hangzhou declined by RMB 30 per tonne and RMB 45 per tonne to stand at RMB 13970 per tonne and RMB 13995 per tonne.
Aluminium ingot prices in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stood at RMB 13950 per tonne, RMB 13915 per tonne, RMB 13950 per tonne, RMB 14000 per tonne and RMB 13870 per tonne.
Aluminium Alloy (A356) price recorded a drop of RMB 50 per tonne today, after remaining flat on Friday. The price stood at RMB 14650 per tonne and expected to move within a range of RMB 14600-14700.
A00 aluminium ingot price performed higher over the week; alumina prices remain flat
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