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04 DECEMBER 2018 AL CIRCLE

China’s primary aluminium inventories extend decline amid supply cuts; ingot price registers a drop

EDITED BY : HEENA IQBAL 1MINS READ

China's social inventories of primary aluminium across eight consumption areas including SHFE warrants amounted to 1.367 million tonnes as of Monday December 3. This is down from 1.386 million tonnes recorded on Thursday November 29, SMM data showed.

Social warehouses saw fewer shipments arrive over the weekend as producers cut their production.   This mainly accounted for the decline in inventories of primary aluminium.

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The current inventory status in the major Chinese cities is as follows:

In another update from SMM, the A00 aluminium ingot price registered a drop from RMB 13680 per tonne to RMB 13660 per tonnes on Tuesday, December 4.The average prices are expected to range between RMB 13,640 per tonne to RMB 13,680 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne.

In east and north, the prices shrank by RMB 20 per tonne to stand at RMB 13,655 per tonne and RMB 13,640 per tonne, respectively. In Northeast China and Southwest China markets, the average prices of A00 aluminium ingot stood at RMB 13,650 and RMB 13,685 respectively on December 4. In the South, average A00 aluminium ingot price stand unchanged at RMB 13,750 per tonne. 


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EDITED BY : HEENA IQBAL 1MINS READ

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