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    Steady downstream consumption shrinks primary aluminium inventory and spot discounts in China

  • China Aluminium Network
  • Post Time: 2018/5/21
  • Click Amount: 484

    As reported by Shanghai Metals Market, China's inventory of primary aluminium, including SHFE warrants, shrank to 2.12 million tonnes as of Monday May 21 due to stable downstream consumption. 


    The inventory was down 20,000 tonnes from 2.14 million tonnes on Thursday May 17 and down 32,000 tonnes from 2.25 million tonnes a week ago. The week-on-week decline was slower from 58,000 tonnes last Thursday. The most awaited peak season for downstream consumption seems to have arrived in China.


    The current inventory status in the major Chinese cities is as follows: 



    Average A00 Aluminum Ingot prices in China are showing restraint at RMB 14,650 per tonne today.  The prices are expected to range within RMB 14,630 to RMB 14,670 per tonne and spot discounts are expected to settle at RMB 100 to 60 per tonne or about RMB 80 per tonne compared to a premium of RMB 70 in April end when supply concerns were worrying the global aluminium market.  


    The table below shows today’s spot aluminium price movements (RMB/t) in various markets.



    Spot primary aluminium prices have dropped in all individual market as supply concerns and trade tensions are slowing down. Downstream consumptions are increasing and more metals are going out in a reasonable price range. Aluminum Alloy prices remain unchanged as traders and buyers are investing more on primary ingots.

    Source: https://www.alcircle.com
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