China’s inventories of aluminium billet rise 12,500 tonnes on weak consumption
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas stood at 95,900 tonnes as of as of Thursday August 8, an increase of some 12,500 tonnes from Thursday August 1.
Aluminium billet inventories continued to expand this week as downstream consumption remained weak.
Inventories of aluminium billet in Foshan, Guangdong and Wuxi, Jiangsu increased 7,400 tonnes and 2,100 tonnes from Thursday, 1 August 2019 to stand at 50,800 tonnes and 16,800 tonnes on Thursday, 08 August 2019. Aluminium billet stocks in Changzhou, Jiangsu rose 1,000 tonnes to 13,000 tonnes
Aluminium billet stocks in Huzhou, Zhejiang and Nanchang, Jiangxi stood at 8,500 tonnes and 6,800 tonnes, an increase of 500 tonnes and 1,500 tonnes from Thursday August 1.
The prices of aluminium alloys (ADC12) remained unchanged at RMB 14,000 per tonne as of Thursday, 08 August 2019. The price is expected to move within a range of RMB 13,900-14100 per tonne. The price of aluminium alloy (A356) and aluminium alloy (A380) remained the same at RMB 14,550 per tonne and RMB 14,850 per tonne.
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