China’s aluminium billet inventories rose 33,700 tonnes for third straight week

As updated by Shanghai Metals Market, inventories of aluminium billet rose for the third consecutive week. Stocks of 6063 aluminium billet across five major consumption areas in China increased by 33,700 tonnes from Thursday January 16 to stand at 100,000 tonnes as of Thursday January 23, after rising 13,200 tonnes in the previous week.

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

Inventories of aluminium billet in Foshan and Wuxi stood at 40,200 tonnes and 14,900 tonnes on Thursday, January 23, up 10,100 tonnes and 2,100 tonnes from January 16. Stocks in Changzhou, Huzhou and Nanchang rose 5,100 tonnes, 7,000 tonnes and 9,300 tonnes to stand at 10,900 tonnes, 23,000 tonnes and 11,000 tonnes.

As of Thursday, January 23, the aluminium alloy (ADC12) price stood at RMB 15,000 per tonne and is expected to move within a range of RMB 14,900 per tonne-15,100 per tonne. The Aluminium alloy (A356) and Aluminium alloy (A380) are hovering at RMB 14,800 per tonne and RMB 15,900 per tonne.

China market is closed for Chinese New Year Holiday and will reopen on Friday January 31st.