China’s primary aluminium inventories drop by 23,000 tonnes over weekend; A00 aluminium price down RMB 60/t
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 859,000 tonnes as of Monday October 28, down by 23,000 tonnes from Thursday, as consumption remained robust.
The current status of primary aluminium inventories across China is given in the chart below:
A00 aluminium ingot price on Tuesday registered a drop of RMB 60 per tonne from Monday’s price of RMB 14000 per tonne. On October 29, the price came in at RMB 13940 per tonne and expected to move within a range of RMB 13920-13960 tonne.
Graph Source: Shanghai Metals Market
Aluminium ingot prices in Foshan, Wuxi and Hangzhou stood at RMB 13840 per tonne, RMB 13950 per tonne, and RMB 13950 per tonne on Tuesday, October 29, down RMB 70 per tonne, RMB 40 per tonne and RMB 50 per tonne. Aluminium ingot price in Chongqing dropped RMB 50 per tonne to RMB 13910 per tonne.
Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi stood at RMB 13905 per tonne, RMB 13930 per tonne, RMB 13950 per tonne, and RMB 13835 per tonne.
Aluminium Alloy (A356) price recorded a drop of RMB 50 per tonne to RMB 14600 per tonne and expected to move within a range of RMB 14550-14650 per tonne.
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