Aluminium billet inventories drop by 1,700 tonnes for 11th straight week
As updated by Shanghai Metals Market, inventories of aluminium billet declined for the 11th consecutive week. Stocks of 6063 aluminium billet across five major consumption areas in China dropped by 1,700 tonnes from Thursday December 19 to stand at 50,600 tonnes as of Thursday December 26, after dipping 2,100 tonnes in the previous week.
The chart below indicates the current status of aluminium billet inventories across China in more details:
Inventories of aluminium billet in Foshan, Guangdong and Changzhou, Jiangsu stood at 16,900 tonnes and 4,000 tonnes on Thursday, 26 December 2019, down 2,700 tonnes and 600 tonnes from December 19. But the stocks of aluminium billet in Wuxi, Jiangsu climbed by 3,400 tonnes to stand at 15,800 tonnes.
Aluminium billet stocks in Huzhou, Zhejiang and Nanchang, Jiangxi shrank by 1,000 tonnes and 800 tonnes from December 19 to 10,000 tonnes and 3,900 tonnes on December 26.
The aluminium alloy (ADC12) price remained unchanged at RMB 15000 per tonne and is expected to range at RMB 14900 per tonne-15100 per tonne.
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