Aluminium billet inventories record growth of 10,800 tonnes on increasing deliveries and moderate consumption

According to Shanghai Metals Market, aluminium billet inventories in China have rebounded over the week ended on June 13, as more deliveries have arrived at warehouses and downstream consumption remained moderate.

SMM data shows that the stocks of 6063 aluminium billet across five major Chinese consumption areas have recorded a rise by some 10,800 tonnes to 73,900 per tonnes, as of June 13. On June 6, the billet stocks were at 63,100 tonnes after declining by some 14,000 tonnes week on week.

In Foshan, Guangdong, the aluminium billet inventory has increased by some 3,100 tonnes from the last week to stand at 30,100 tonnes, while that in Wuxi, Jiangsu, and Changzhou, Jiangsu has risen by some 2,100 tonnes and 900 tonnes to stand at 9,300 tonnes and 7,900 tonnes, respectively. In Huzhou, Zhejiang, and Nanchang, Jiangxi, the inventory has inched up by some 1,500 tonnes and 3,200 tonnes to 9,000 tonnes and 17,600 tonnes.

However, despite the growth in aluminium billet inventories across major consumption areas in China, the price of aluminium alloys (ADC12) has remained unchanged from RMB 14,300 per tonne. The prices of aluminium alloy (A380) and aluminium alloy (A356) have also shown restraint today at RMB 15,150 per tonne and RMB 14,750 per tonne, learned SMM.