According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.3 million tonnes as of Wednesday January 2, up 16,000 tonnes from Thursday December 27. This followed after a week-on-week increase of 6,000 tonnes on Thursday December 27.
The current status of primary aluminium inventories across China is given in the chart below:
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A00 aluminium ingot price dropped RMB 130 per tonne to RMB 13,310 per tonne on January 2.Today, the average prices are expected to range between RMB 13,290 per tonne and RMB 13,330 per tonne, with spot discounts to settle at RMB 100 per tonne to RMB 60 per tonne.
In the East(Wu Xi) and East(Hang Zhou), the A00 aluminium ingot prices dropped by RMB 155 per tonne to settle at RMB 13330 per tonne and RMB 13340 per tonne; while in the north and south, the price slipped by RMB 185 per tonne and RMB 130 per tonne to stand at RMB 13300 per tonne and RMB 13450 per tonne respectively.
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