
According to Shanghai Metals Market, aluminium billet inventories in China have extended fall over the week ended on June 6, as significant deliveries have yet to arrive at warehouses.
SMM data shows that the stocks of 6063 aluminium billet across five major consumption areas have decreased today by some 14,000 tonnes to stand at 63,100 tonnes. The decline in billet stocks thus, records higher today compared with May 30 when the stocks had dropped only by 1,200 tonnes.
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In Foshan, Guangdong, the aluminium billet inventory has dropped by some 7,900 tonnes from the last week to stand at 27,000 tonnes, while that in Wuxi, Jiangsu and Huzhou, Zhejiang has declined by some 6,000 tonnes to stand at 7,200 tonnes and 2,500 tonnes to come in at 7,500 tonnes. In Nanchang, Jiangxi, the inventory, however, has inched up by some 1,000 tonnes to 14,400 tonnes.
Amidst this, the price of aluminium alloys (ADC12) has remained restraint at RMB 14,350 per tonne. Yesterday, on June 5, the price had dropped from RMB 14,400 per tonne to RMB 14,350 per tonne. The prices of aluminium alloy (A356) and aluminium alloy (A380) also continue to be the same at RMB 14,750 per tonne and RMB 15,200 per tonne.
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