According to Shanghai Metals Market report on Thursday, March 12, aluminium billet inventories fell after three consecutive weeks of increase, as the deliveries from warehouses outweighed arrivals.
Data showed the stocks of 6063 aluminium billets across five major consumption areas in China shrank 19,500 tonnes from a week ago to stand at 199,300 tonnes, as of March 12.
{alcircleadd}The chart below indicates the current status of aluminium billet inventories across China in more details:
In Foshan, Wuxi, and Changzhou, the billet inventories declined by 2,700 tonnes, 5,000 tonnes, and 2,400 tonnes, respectively, from the last week to stand at 94,900 tonnes, 55,000 tonnes, and 19,700 tonnes, as of March 12. In Huzhou and Nanchang, the inventories came in at 22,000 tonnes and 7,700 tonnes after falling by 3,000 tonnes and 6,500 tonnes.
On the decline of aluminium billet inventories on March 12, the prices of both aluminium alloys (ADC12) and aluminium alloy (A380) remained restrained at RMB 14,700 per tonne and RMB 15,600 per tonne. But on the next day, March 13, they declined by RMB 100 per tonne to RMB 14,600 per tonne and RMB 15,500 per tonne.
The price of aluminium alloy (A356), however, recorded declines on both March 12 as well as March 13. On Thursday, March 12, it decreased by RMB 50 per tonne to RMB 13,450 per tonne, followed by a further decline of RMB 100 per tonne to RMB 13,350 per tonne on March 13.
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