
Stocks of 6063 aluminium billet across five major consumption areas in China stood at 91,700 tonnes as of Thursday August 29, an increase of some 400 tonnes from 91,300 tonnes Thursday August 22, according to Shanghai Metals Market.
Aluminium billet inventories grew this week after two consecutive weeks of declines as downstream consumption remained sluggish.
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Inventories of aluminium billet in Foshan, Guangdong and Nanchang, Jiangxi increased 1,600 tonnes and 1,500 tonnes from Thursday August 22 to stand at 42,400 tonnes and 10,100 tonnes. Stocks in Huzhou, Zhejiang remained unchanged at 9,000 tonnes as of Thursday August 29.
Aluminium billet stocks in Wuxi, Jiangsu and Changzhou, Jiangsu stood at 16,900 tonnes and 13,300 tonnes on Thursday, down 1,000 tonnes and 1,700 tonnes from 17,900 tonnes and 15,000 tonnes.
The price of aluminium alloys (A356) registered a drop of RMB 50 per tonne on Thursday, 29 August 2019. Alloy price dropped from RMB 14,950 per tonne to RMB 14,900 per tonne. The price is expected to move within a range of RMB 14,850-14,950 per tonne.
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