6063 aluminium billet inventories in China extend growth for the fourth consecutive week
According to Shanghai Metals Market, the 6063 aluminium billet inventories across five major consumption areas in China have increased by 46,800 tonnes over the last two weeks. From 100,000 tonnes on January 23, the inventories, as of today, February 6, jumped to 146,800 tonnes, marking the fourth consecutive week of increase.
The chart below indicates the current status of aluminium billet inventories across China in more details:
As the above chart suggests, the inventories in Foshan have increased by 9,000 tonnes from January 23 to come in at 59,200 tonnes, while that in Wuxi and Changzhou by 8,600 tonnes and 7,900 tonnes to stand at 23,500 tonnes and 18,800 tonnes, respectively. Huzhou and Nanchang have also seen the growth in inventories of about 7,000 tonnes and 4,300 tonnes to 30,000 tonnes and 15,300 tonnes, respectively.
But despite the growth in billet inventories, the price of aluminium alloy (A356) in China’s spot market has increased today by RMB 50 per tonne to RMB 14,200 per tonne. The average prices are expected to range between RMB 14,150 per tonne and RMB 14,250 per tonne. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 15,000 per tonne and RMB 15,900 per tonne, respectively.
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