Primary aluminium inventories grow for a third straight week; A00 aluminium ingot price increases by RMB30/t

According to Shanghai Metals Market, the social inventories of primary aluminium, as of August 15, have recorded a week-on-week rise for the third straight week. SMM data shows that stocks across eight major consumption areas, including SHFE warrants, have increased by 1,000 tonne from a week ago to come in at 1.051 million tonnes.

Increasing cargoes arrival at Wuxi and weakening demand in Guangdong in a low season could be the two primary causes for this weekly growth in primary aluminium inventories.

In Wuxi, Jiangsu, the inventories have grown by some 10,000 tonnes, while that in Nanhai, Guangdong by some 14,000 tonnes. In other major markets like Shanghai, Gongyi, Henan; Linyi, Shandong; and Chongqing, the inventories have dipped.

The chart below indicates the current status of primary aluminium inventories in more details:

 But despite the rise in inventories, the A00 aluminium ingot price has recorded a growth of RMB 30 per tonne to RMB 14,140 per tonne, as of Thursday, August 15, found Shanghai Metals Market. The average prices are expected to range between RMB 14,130 per tonne and RMB 14,150 per tonne, with spot contract to be traded at a premium price of RMB 40 per tonne.

Today, while the aluminium ingot price has risen across all the major markets in China, Gongyi has witnessed a sharp drop of RMB 90 per tonne to RMB 14,010 per tonne. Tianjin among all has seen the highest price rise of RMB 60 per tonne to stand at RMB 14,170 per tonne.

On the growth of A00 aluminium ingot price, the aluminium alloy (A356) price has increased by RMB 100 per tonne to RMB 14,900 per tonne.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.