Chinese aluminum ingot price decreases although inventory drops
According to latest figure from Shanghai Metals Market, primary aluminum inventories across major regions in China have dropped this week. The total stock dropped by around 14,000 tons from August 9th and 5,000 tons from August 13th. Current inventory totaled around 1.76 million tons today.
Although there was a fall trend of stocks in the market, the A00 aluminum ingot price also declined after a record rise. Recent average prices were around RMB 14,310/ton to RMB 14,350/ton, with spot discounts.
Both primary aluminum prices on Shanghai Metal Exchange and London Metal Exchange went down. LME price was US$1,994.5/ton on August 15th compared to US$2,052/ton on August 14th and US$2,052/ton on August 13th.
