MYMETAL: China’s dipping Al stocks standing by prices
Dec 10, 2019 14:30
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China’s aluminum price had been holding firm over December 3-9, partly as aluminum stocks with the traders in 16 major Chinese cities under Mymetal’s weekly survey posted the fourth week of contraction during the period, down another 43,000 tonnes on week to 643,000 tonnes as of December 9, according to Mymetal’s weekly aluminum report.
Mymetalis Mysteel’s publication reporting non-ferrous news and prices.
As of December 9, the national average price for the 99.7% grade aluminum ingot was recorded at Yuan 14,084/tonne ($1,984/t), or up slightly from Yuan 14,041/t a week ago, both including 13% VAT, according to Mymetal’s database.
In the near term, though, China’s aluminum