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18 JULY 2019 AL CIRCLE

Aluminium billet inventories extend drop in China by 400 tonnes; Alloy prices record no change

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market, inventories of aluminium billet in China have recorded further decline this week, as stocks in Foshan of Guangdong province has dipped significantly.

Across five major consumption areas, the stocks of 6063 aluminium billet have decreased by some 400 tonnes over the week to stand at 81,100 tonnes, as of July 18. On last Thursday, July 11, the stocks hovered at 81,500 tonnes after declining from 83,200 tonnes week-on-week.

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In Foshan, Guangdong, and Nanchang, Jiangxi, the billet inventories have registered a drop from 47,900 tonnes last week to 41,700 tonnes and from 6,400 tonnes to 5,100 tonnes, as of July 18. In other major markets like Wuxi, Jiangxu; Changzhou, Jiangsu; and Huzhou Zhejiang, the inventories have, however, increased today by 3,400 tonnes, 2,200 tonnes, and 1,500 tonnes respectively.

Aluminium billet inventories extend drop in China

No change in aluminium alloy price could be seen amidst the decline in billet inventories. After plunging from RMB 14,100 per tonne to RMB 14,000 per tonne on July 2, the price of aluminium alloys (ADC12) has been showing restraint since then, even when the aluminium billet stocks rose by 5,500 tonnes on July 4.

The prices of aluminium alloy (A356) and aluminium alloy (A380) have continued to show restraint today at RMB 14,500 per tonne and RMB 14,850 per tonne, respectively. Similar to the price of aluminium alloy (ADC12), the price of aluminium alloy (A380) has recorded no change since July 2. The price of aluminium alloy (A356) has been only moving through the month, ranging between RMB 14,450 per tonne and RMB 14,500 per tonne.

Red Mud report


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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