Aluminium billets inventories record a growth of over 3,000 tonnes today after 12 weeks of decline

According to Shanghai Metals Market, the stocks of 6063 aluminium billets across five major consumption areas in China have grown today, on January 9, after three months of back-to-back decline. Compared with 49,900 tonnes on last Thursday, January 2, the billets inventories today, on January 9, are hovering at 53,200 tonnes. This means the stocks have increased by 3,300 tonnes over the week, in comparison to the decline of 700 tonnes last week.

The below chart indicates the current status of aluminium billets inventories across China in more details:

Among all the Chinese cities, Foshan has only witnessed a growth of 39 per cent to stand at 26,400 tonnes. In other cities like Wuxi, Changzhou, and Huzhou, the inventories have declined from 12,100 tonnes to 10,600 tonnes, 4,800 tonnes to 4,300 tonnes, and 11,000 tonnes to 9,000 tonnes, respectively. In Nanchang, however, the inventories have remained restrained at 3,000 tonnes.

But despite the rise in billets inventories after 12 consecutive weeks of decline, the price of aluminium alloys (ADC12) has remained unchanged at RMB 15,000 tonnes, and so the prices of aluminium alloy (A356) and aluminium alloy (380) at 15,150 tonnes and 15,900 tonnes, respectively.