
The primary aluminium ingot inventories in China have continued to trend down today, on June 11, found Shanghai Metals Market. The stocks across eight major consumption areas, including SHFE warrants, have decreased by 60,000 tonnes over the week to stand as low as 787,000 tonnes, following a decline of 46,000 tonnes to 847,000 tonnes last Thursday, June 4.
The chart below indicates the current status of primary aluminium inventories across China in more details:
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The primary aluminium inventories in Wuxi have seen the highest fall today of 41,000 tonnes to 285,000 tonnes, while the stocks in Nanhai have plunged by 17,000 tonnes to stand at 161,000 tonnes. In Gongyi, the inventories have decreased by 3,000 tonnes to 42,000 tonnes and in Hangzhou by 2,000 tonnes to 104,000 tonnes. In Tianjin and Linyi, however, the inventories have increased by 2,000 tonnes and 1,000 tonnes, respectively, to come in at 59,000 tonnes and 10,000 tonnes. In Shanghai and Chongqing, on the other hand, the inventories have remained restrained at 117,000 tonnes and 9,000 tonnes, respectively.
On the continued downfall in primary aluminium inventories, the price of A00 aluminium ingot price has recorded a hike today, on June 11, by RMB 40 per tonne to stand at RMB 13,860 per tonne.
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