6063 aluminium billet inventories extend week-on-week decline to 112,000t
According to Shanghai Metals Market, inventories of 6063 aluminium billet across five major consumption areas in China saw a smaller decline this week as value-added tax cuts lowered purchases. As of today, April 4, the inventories were found at 112,000 tonnes, after falling by some 8,700 tonnes from a week ago. This marks the fourth consecutive weeks of aluminium billet inventories decline across China.
While most of the Chinese markets have seen a downfall in billet inventories, there are some that has seen a rise. For instance, Huzhou, Zhejiang where inventories have grown from 6,000 tonnes on March 28 to 7,000 tonnes on April 4. Inventories in Foshan, Guangdong; Wuxi, Jiangsu; Changzhou, Jiangsu; and Nanchang Jiangxi have, however, dropped. The chart below gives more details on the current status of 6063 billet inventories across China.
Against this further decline in 6063 aluminium billet inventories, the price of aluminium alloy (A356) has recorded a sharp rise by RMB 100 per tonne to stand at RMB 14,600 per tonne, found Shanghai Metals Market. The prices of aluminium alloys (ADC12) and aluminium alloy (A380), on the other hand, are showing restraint at RMB 14,750 per tonne and RMB 15,450 per tonne, respectively.
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