Aluminium billet inventories in China decline by some 2,200 tonnes
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas stood at 93,700 tonnes as of as of Thursday August 15, down some 2,200 tonnes from Thursday August 8.
Aluminium billet inventories dropped this week with a significant decline in stocks in Foshan city of south China’s Guangdong province.
Inventories of aluminium billet in Foshan, Guangdong and Wuxi, Jiangsu dropped 9,900 tonnes and 300 tonnes from Thursday, 8 August 2019 to stand at 43,900 tonnes and 16,500 tonnes on Thursday, 15 August 2019. Aluminium billet stocks in Changzhou, Jiangsu remains unchanged at 13,000 tonnes.
Aluminium billet stocks in Huzhou, Zhejiang and Nanchang, Jiangxi stood at 10,000 tonnes and 10,300 tonnes, an increase of 1,500 tonnes and 3,500 tonnes from Thursday August 8.
The prices of aluminium alloys (A356) registered an increase of RMB 50 per tonne on Friday, 16 August 2019. Alloy price stood at RMB 14,950 per tonne. The price is expected to move within a range of RMB 14,900-15000 per tonne.
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