6063 aluminium billet inventories continue to decline for the fifth consecutive week

According to Shanghai Metals Market, the inventories of 6063 aluminium billet continue to drop for the fifth consecutive week across five major Chinese consumption areas, as consumption recovered at a slower pace. The SMM data shows the aluminium billet inventories as on today, April 11, are standing at 108,400 tonnes, after falling some 3,600 tonnes week-on-week.

On April 4, the billet inventories had fallen by some 8,700 tonnes W-o-W and pegged at 112,000 tonnes. This indicates that today’s decline of inventories was slower than the previous week.

The chart below indicates the current status of the billet inventories across China:

In the above chart we can see that 6063 aluminium billet inventories in Foshan, Guangdong have recorded a plunge today by 5,000 tonnes to clock at 75,600 tonnes, while that in Huzhou, Zhejiang and Nanchang, Jiangxi have registered a drop by 1,000 tonnes to stand at 6,000 tonnes and 100 tonnes to 3,300 tonnes respectively. Other cities like Wuxi, Jiangsu and Changzhou, Jiangsu, on the other hand, have seen a rise in billet inventories by 1,300 tonnes and 1,000 tonnes.

But despite the continued fall in billet inventories across China, the price of aluminium alloy (ADC12) has recorded no change today, April 11. The price is still hovering at RMB 14,650 per tonne since April 9. Also, the prices of aluminium alloy (A356) and aluminium alloy (A380) have also shown restraint at RMB 14,600 tonnes and RMB 15,450 per tonne, respectively.