
China’s inventory of primary aluminium across eight major markets continued to dip over the weekend. According to Shanghai Metals Markets, including SHFE warrants, the inventory dropped 6,000 tonnes to stand at 1.83 million tonnes, as of Monday, July 9, 2018.
A slowdown in downstream consumption led the decline to be smaller from the drop recorded a week ago.
{alcircleadd}The inventory in some of the Chinese cities like Wuxi and Jiangsu, Shanghai, Hangzhou and Zhejiang, and Tianjin registered a plunge, compared to July 5, 2018, while in Nanhai and Guangdong, Gongyi and Henan, and Linyi and Shandong, the inventory rose from the previous day.
More details are given in the table below:

The average A00 aluminium ingot price surged further from RMB 13910 per tonne to RMB 13990 per tonne. The average price is expected to range between RMB 13970 per tonne and RMB 14010 per tonne, with spot discounts to settle at RMB 70 per tonne to RMB 30 per tonne.

After a fall on Thursday, July 5, from RMB 13930 per tonne to RMB 13870 per tonne, the ingot price rose two days in a row to RMB 13910 per tonne on July 6 and to RMB 13990 per tonne today. This indicates a change in price by RMB 80 per tonne today from the previous day.
In the east, the aluminium ingot price grew today by RMB 100 per tonne to stand at RMB 13995 per tonne, compared to RMB 13895 per tonne on July 6. In the south and north, on the other hand, the inventory increased RMB 105 per tonne and RMB 80 per tonne to stand at RMB 14085 per tonne and RMB 14000 per tonne, respectively.
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