China’s aluminium billet inventories drop for second consecutive week
As updated by Shanghai Metals Market, inventories of aluminium billet in China continued to decline for the second consecutive week. Stocks of 6063 aluminium billet across five major consumption areas in China stood at 197,600 tonnes as of Thursday March 19, a decrease of 1,700 tonnes from March 12. The inventory dropped 19,500 tonnes in the week ended March 12.
The chart below indicates the current status of aluminium billet inventories across China in more details:
Inventories of aluminium billet in Foshan, Wuxi, and Nanchang came in at 90,600 tonnes, 53,900 tonnes, and 7,200 tonnes, down 4,300 tonnes, 1,100 tonnes, and 500 tonnes from March 12. But the stocks in Changzhou and Huzhou increased by 3,300 tonnes and 1,000 tonnes to stand at 23,000 tonnes each.
The aluminium alloy (ADC12) price on Thursday, March 19 stood at RMB 14,300 per tonne and is expected to move within a range of RMB 14,200-14,400 per tonne. That was down RMB 200 per tonne from yesterday.
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