Aluminium billet inventories increase by 6,900 tonnes week-on-week due to higher stock arrivals
Aluminium billet inventories in China have increased this week due to higher arrivals, found Shanghai Metals Market. SMM data shows the stocks of 6063 aluminium billet have rebounded by 6,900 tonnes week-on-week across five major consumption areas to stand at 73,200 tonnes, following a decline of 5,200 tonnes to 66,200 tonnes last week, June 24.
The chart below indicates the current status of aluminium billet inventories across China in more details:
Except Foshan, the hike in aluminium billet inventories has touched upon all the major Chinese markets this week. In Foshan, the stocks have declined by 4,800 tonnes to stand at 21,200 tonnes. In Wuxi and Nanchang, the inventories have hiked by 3,200 tonnes and 3,100 tonnes, respectively, to come in at 17,900 tonnes and 11,200 tonnes, while that in Huzhou and Changzhou have recorded growth of 3,000 tonnes and 2,400 tonnes to hover at 11,000 tonnes and 11,900 tonnes, respectively.
But despite the rise in aluminium billet inventories, the price of aluminium alloy (A356) has recorded a rise of RMB 50 per tonne to RMB 15,050 per tonne. The prices of aluminium alloys (ADC12) and aluminium alloy (A380) have, however, remained restrained at RMB 13,950 per tonne and RMB 14,850 per tonne, respectively.
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