Aluminium billet inventories in China extend decline but slower than the previous week

According to Shanghai Metals Market, aluminium billet inventories in China have declined today, on April 9, for the fifth consecutive week, as stocks in east China have begun to shrink. The data shows the stocks of 6063 aluminium billets across five major consumption areas in China have totalled at 170,100 tonnes after declining by 4,100 tonnes over the week. Last week, on April 2, the inventories had plunged by 18,500 tonnes week-on-week to 174,200 tonnes.

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

In Wuxi, Changzhou, and Nanchang, the aluminium billet inventories have dropped by 4,520 tonnes, 4,230 tonnes, and 1,530 tonnes to come in at 47,100 tonnes, 21,100 tonnes, and 7,400 tonnes, respectively. Foshan and Huzhou, on the other hand, have seen a hike in inventories of about 2,100 tonnes and 1,000 tonnes to stand respectively at 76,500 tonnes and 18,000 tonnes.

But despite the fall in aluminium billet inventories today, the prices of aluminium alloys have recorded no hike but remained restraint. The price of aluminium alloys (ADC12) has remained restrained at RMB 13,850 per tonne, while that of aluminium alloy (A356) and aluminium alloy (A380) at RMB 12,300 per tonne and RMB 14,750 per tonne, respectively.