Chinese primary aluminium inventory drops 5,000/t; A00 aluminium ingot price records a rise today

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, decreased some 5,000 tonnes from Thursday April 4 to 1.636 million tonnes as of Thursday April 11, Shanghai Metals Market data showed.

In Shanghai and Nanhai, Guangdong, inventories of primary aluminium declined 4,000 tonnes and 11,000 tonnes from Thursday April 4 to stand at 290,000 tonnes and 374,000 tonnes respectively. Stocks in Wuxi, Jiangsu and Gongyi, Henan increased 2,000 tonnes and 10,000 tonnes from last Thursday to 586,000 tonnes and 145,000 tonnes on Thursday, April 11. The chart below indicates the current status of primary aluminium inventory across China:

A00 aluminium ingot price recorded a growth of RMB20 per tonne on Friday, 12 April 2019. Ingot price increased from RMB13810 per tonne to RMB13830 today. Spot aluminium contract is likely to be traded at discount of RMB20 per tonne to premium of RMB20 per tonne. The average price is expected to range between RMB 13810-13850 per tonne.

In East (Wuxi), ingot price increased from RMB13805 per tonne to RMB13830 per tonne. Aluminium ingot price in East (Hangzhou) market stood at RMB13855 per tonne on April 12, up from RMB13830 per tonne. In South China market aluminium price increased to RMB13820 per tonne. North aluminium price increased to RMB13820 per tonne from RMB13800 per tonne.

Australian alumina FOB price dropped USD9 per tonne to USD395 per tonne on Friday, 12 April 2019. The average price is expected to range within USD395 per tonne.