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20 AUGUST 2020 AL CIRCLE

Aluminium billet inventories in China decline by over 9,000 tonnes this week to stand at 60,000 tonnes

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market data, the 6063 aluminium billet inventories in China have decreased this week ended on August 20 by 9,400 tonnes from a week ago. SMM data shows the billet inventories are now at 60,000 tonnes, marking the second consecutive week of decline. On last Thursday, August 12, the stocks were at 69,400 tonnes after falling by 6,400 tonnes from 63,000 tonnes in the week earlier.

The chart below indicates the current status of aluminium billet inventories across China in more details:

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Aluminium billet inventories in China decline by over 9,000 tonnes W-o-W to 60,000 tonnes

Except Foshan, the aluminium billet inventories this week have decreased in all major Chinese cities on August 20. For instance, the inventories in Nanchang have fallen by 5,140 tonnes to 10,060 tonnes, while that in Wuxi by 2,940 tonnes to stand at 13,500 tonnes. In Changzhou and Huzhou, the inventories have dwindled by 2,190 tonnes and 1,000 tonnes, respectively, to come in at 7,660 tonnes and 10,000 tonnes.

In Foshan, the aluminium billet inventories have grown by 1,900 tonnes to 18,800 tonnes, according to SMM.

Global Aluminium Industry - Key Trends to 2030

On the continued decline in aluminium billet inventories, the price of aluminium alloy (A356) has gained by RMB 150 per tonne to RMB 15,400 tonnes. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained unchanged at RMB 14,000 tonnes and 14,900 tonnes, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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