Aluminium billet stocks in China expanded further over the week
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China increased some 22,500 tonnes over the week ended Thursday January 31. Stocks of aluminium billets now stood at 110,200 tonnes.
In Foshan and Guangdong and in Changzhou, Jiangsu, the billets stocks increased by 8,600 tonnes and 3,700 tonnes to stand at 60,000 tonnes and 16,700 tonnes respectively. In Nanchang, Jiangxi, the inventory stood at 12,400 tonnes, up by 4,800 tonnes.
Chinese New Year break of more downstream buyers accounted for the increase in aluminium billet stocks.
The price of aluminium alloys (ADC12) remained unchanged at RMB 14,850 per tonne today. This price has been continuing since January 21.
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