
According to an update from Shanghai Metals Market, social inventories of primary aluminium continued to extend its fall across eight consumption areas in China, including SHFE warrants, and stood at 1.32 million tonnes, as of Monday, December 10. This marked a decline by some 35,000 tonnes from Thursday, December 6.
Lower arrivals to social warehouses and greater deliveries departing extended declines in inventories, SMM learned.
{alcircleadd}In Wuxi and Jiangsu, the inventories declined some 16,000 tonnes over the weekend ended on December 10, while in Shanghai, Nanhai and Guangdong, Gongyi and Henan, and Hangzhou and Zhejiang, the inventories dipped by some 1,000 tonnes, 9,000 tonnes, 7,000 tonnes, and 3,000 tonnes respectively.
The below chart shows the current status of primary aluminium inventories across all major Chinese markets:

In this background, the A00 aluminium ingot price recorded a rise two days in a row. After a rise by RMB 90 per tonne from RMB 13,500 per tonne to RMB 13,590 per tonne, the ingot price rose further by RMB 10 per tonne to RMB 13,600 per tonne, SMM found. The average prices are expected to range between RMB 13,580 per tonne and RMB 13,620 per tonne, with spot discounts remaining the same at RMB 20 per tonne.

In the east (Wuxi and Hangzhou), the ingot prices surged RMB 5 per tonne and RMB 10 per tonne respectively to stand at RMB 13,600 per tonne and RMB 13,635 per tonne. In the south and north, on the other hand, the prices climbed RMB 30 per tonne and RMB 10 per tonne to clock at RMB 13,750 per tonne and RMB 13,580 per tonne.
On the other hand, the spot price of alumina, the raw material used for aluminium production, recorded a plunge today, on December 11, to RMB 3022 per tonne, after hovering at RMB 3037 per tonne from December 5 to 10.

Markets in the east and central witnessed a price drop by RMB 20 per tonne and RMB 10 per tonne to stand at RMB 3040 per tonne, while markets in the north and south saw a dip by RMB 20 per tonne and RMB 15 per tonne to RMB 3000 per tonne and RMB 3025 per tonne, respectively.
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