
According to Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased 5,000 tonnes from Thursday July 18 to stand at 1.047 million tonnes as of Monday July 22. On Thursday, July 18, the primary aluminium inventories were 1.042 million tonnes, barely changed from a week ago.
The chart below indicates the current status of primary aluminium inventories across all major China markets:
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In Wuxi and Shanghai, primary aluminium inventories declined 2,000 tonnes and 1,000 tonnes from Thursday to stand at 318,000 tonnes and 200,000 tonnes on Monday, 22 July 2019. Inventories in Nanhai, Guangdong increased from 258,000 tonnes to 269,000 tonnes. In Gongyi and Hangzhou, the inventories dropped 1,000 tonnes and 3,000 tonnes to clock at 104,000 tonnes and 65,000 tonnes.
A00 aluminium ingot price stood at RMB 13850 per tonne on Monday, 22 July 2019, down 70 RMB from its previous price of RMB 13920 per tonne on July 19. The average price is expected to move within a range of RMB13830-13870 per tonne.
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