Aluminium billet stocks in China drop 2,900 tonnes on improved consumption
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China came in at 93,600 tonnes on Thursday, 16 May 2019. Inventories of aluminium billet dropped some 2,900 tonnes from 96,500 tonnes on Thursday, May 9.
Aluminium billet stocks declined in the week as downstream consumption picked up, SMM data showed.
In Foshan, Guangdong, the billet stocks stood at 48,000 tonnes, down 3,800 tonnes from 51,800 tonnes. Inventories of aluminium billet in Huzhou, Zhejiang and Nanchang, Jiangxi dropped 5,00 tonnes and 7,00 tonnes to stand at 11,500 tonnes and 7,600 tonnes.
Stocks of aluminium billet in Wuxi, Jiangsu and Changzhou, Jiangsu rose by 1,600 tonnes and 5,00 tonnes from Thursday, May 9 to stand at 18,000 tonnes and 8,500 tonnes.
The price of aluminium alloy (A356) increased from RMB 14950 per tonne to RMB15000 per tonne today. This records an increase of RMB50 per tonne. Aluminium alloy (ADC12) remained unchanged at RMB 14550 per tonne. The prices of aluminium alloy (ZLD102) and aluminium alloy (ZLD104) stood at RMB 15100 per tonne and RMB 15050 per tonne respectively.
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