According to Shanghai Metals Market, the stocks of 6063 aluminium billets across five major consumption areas in China rose for the second consecutive week by 13,200 tonnes. From 53,200 tonnes on last Thursday, January 9, the aluminium billets inventories, as of today, January 16, have come in at 66,400 tonnes.
In Foshan, the billets inventories are hovering at 30,100 tonnes after rising by 3,700 tonnes over the week, while in Wuxi, Changzhou, and Huzhou, the inventories have come in at 12,800 tonnes, 5,800 tonnes, and 16,000 tonnes after growing by 2,200 tonnes, 1,500 tonnes, and 7,000 tonnes, respectively. However, in Nanchang, the inventories have dropped from the last week to 1,700 tonnes.
On the extended rise in billets inventories, the prices of aluminium alloys have declined today, found SMM. While the aluminium alloys (ADC12) and aluminium alloy (A380) prices have plunged by RMB 50 per tonne to RMB 14,950 per tonne and RMB 15,850 per tonne, the price of aluminium alloy (A356) has decreased by RMB 100 per tonne to RMB 14,800 per tonne.
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