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    Shanghai aluminium hits 5 and ½ month high as inventories drop

  • China Aluminium Network
  • Post Time: 2019/4/24
  • Click Amount: 538

    Reuters reported that the most active aluminium contract on the Shanghai Futures Exchange hit its highest since November 2018 on Monday, following a drop in inventories last week. Shanghai aluminium jumped to as high as CNY 14,175 (USD 2,114.44) a tonne, after data on Friday showed that aluminium stocks in warehouses tracked by ShFE AL-STX-SGH dropped to 665,067 tonnes, their lowest weekly level since November 2017.

    Shanghai copper was almost flat at 49,400 yuan a tonne, as of 0200 GMT, while nickel rose 0.9 percent and zinc edged up 0.3 percent.

    China's refined copper output reached 705,000 tonnes in March, up 10.2 percent from a year earlier, the country's National Bureau of Statistics said. However, that is the lowest monthly total in records on the bureau's website since June 2016, according to Reuters observation.

    Source: www.alcircle.com
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