MYMETAL: China Al price softens amid mounting stocks
Jan 13, 2021 16:30
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Chinese domestic prices of primary aluminum dipped further last week, with the rise in inventory levels indicating a softening of demand among end-users, according to the latest weekly survey by Mymetal, Mysteel’s nonferrous metals data collection arm.
As of January 12, Mymetal’s assessment of China’s national price of 99.7% aluminum ingot had eased to Yuan 15,034 tonne ($2,326/t) on delivery and including 13% VAT, down another Yuan 659/t on week.
Total aluminum stocks at Shanghai Futures Exchange-registered warehouses and in 13 cities nationwide grew for the second week