
Extending decline for the sixth consecutive week, aluminium billet inventories in China have totalled at 164,900 tonnes, as of Thursday, April 16, found Shanghai Metals Market. SMM data shows the stocks of 6063 aluminium billet have reduced by 5,200 tonnes today, compared to 4,100 tonnes last week, across five major consumption areas. This indicates a growth in the week-on-week decline of aluminium billet inventories this week.
The chart below indicates the current status of aluminium billet inventories across China in more details:
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Foshan, Huzhou, and Nanchang have seen declines in aluminium billet inventories today, among which Foshan has seen the highest fall. In Foshan, the billet inventories have reduced by 6,900 tonnes to stand at 69,600 tonnes, while that in Huzhou and Nanchang have fallen by 2,000 tonnes and 1,600 tonnes to come in at 16,000 tonnes and 5,800 tonnes, respectively.
Wuxi and Changzhou, on the other hand, have seen a rise of 3,340 tonnes and 1,950 tonnes respectively to stand at 50,440 tonnes and 23,050 tonnes, learned SMM.
On the fall of aluminium billet inventories, the price of aluminium alloy (A356) has grown by RMB 100 per tonne to stand at RMB 12,700 per tonne today, according to SMM. But the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 13,750 per tonne and RMB 14,650 per tonne, respectively.
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