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28 MAY 2020 AL CIRCLE

Chinese aluminium billet inventories extend downfall over the week ending May 28

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to Shanghai Metals Market, the aluminium billet inventories in China have continued to decline this week ending Thursday, May 28, driven by healthy demand and limited arrivals of stocks to warehouses. SMM data shows the aluminium billet inventories have decreased by 15,600 tonnes over the week across five major consumption areas to stand at 77,100 tonnes.

Last week, on May 21, the aluminium billet inventories were at 92,800 tonnes after declining by 20,000 tonnes from the week ago. This means the decline this week has slowed down by 4,400 tonnes.

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

Aluminium billet inventories in China extend downfall over the week ending May 28

So, as the above chart shows, Foshan has seen the highest fall of aluminium billet inventories by 9,900 tonnes to stand at 43,2000 tonnes. In Nanchang, the inventories have plunged by 2,650 tonnes to hover at 5,300 tonnes, while that in Wuxi and Huzhou have decreased by 1,170 tonnes and 1,000 tonnes to come in at 9,870 tonnes and 11,000 tonnes, respectively. Changzhou has seen a decline of 930 tonnes to 7,740 tonnes.

Energy Consumption in Aluminium Smelting

On the stable consumption of aluminium billets amidst lower supply, the price of aluminium alloy (A356) has recorded a hike today by RMB 50 per tonne to stand at RMB 14,200 per tonne, learned SMM. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 13,950 per tonne and RMB 14,850 per tonne, respectively.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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