Aluminium billet inventories in China decline by some 2,400 tonnes on week
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas stood at 91,300 tonnes as of Thursday August 22, down some 2,400 tonnes from Thursday August 15.
Aluminium billet inventories extended their declines while consumption remained sluggish.
Inventories of aluminium billet in Foshan, Guangdong dropped 3,100 tonnes from Thursday, 15 August 2019 to stand at 40,800 tonnes on Thursday, 22 August 2019. Aluminium billet stocks in Wuxi, Jiangsu and Changzhou, Jiangsu rose 1,400 tonnes and 2,000 tonnes to 17,900 tonnes and 15,000 tonnes.
Stocks in Huzhou, Zhejiang and Nanchang, Jiangxi stood at 9,000 tonnes and 8,600 tonnes, a drop of 1,000 tonnes and 1,700 tonnes from Thursday August 22.
The prices of aluminium alloys (A356) registered an increase of RMB 50 per tonne on Thursday, 22 August 2019. Alloy price stood at RMB 15,000 per tonne. The price is expected to move within a range of RMB 14,950-15050 per tonne.
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