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09 MAY 2019 AL CIRCLE

Inventories of aluminium billet in China extend gains of 1,600 tonnes

EDITED BY : HEENA IQBAL 1MINS READ

Stocks of 6063 aluminium billet extended their gains today across five consumption areas. Aluminium billet inventories increased some 1,600 tonnes from Sunday, May 5 to stand at 96,500 tonnes as of Thursday May 9.

Inventories in China gained this week as buyers stood on the sidelines, according to Shanghai Metals Market.

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Changzhou, Jiangsu and Huzhou, Zhejiang recorded growth by 5,00 tonnes and 2,000 tonnes from Sunday May 5 to stand at 8,000 tonnes and 12,000 tonnes. In Nanchang, Jiangxi, aluminium billet stocks rose by 6,00 tonnes to stand at 8,300 tonnes.

In Foshan, Guangdong, and Wuxi, Jiangsu, the billet stocks reduced by 1,300 tonnes and 2,00 from Sunday May 5 to stand at 51,800 tonnes and 16,400 tonnes today.

In another update from SMM, the average price of Aluminium Alloy (ADC12) remained unchanged today at RMB 14550 per tonne. On Monday, May 6, Aluminium Alloy (ADC12) registered a drop of RMB100 per tonne. The price is expected to move within a range of RMB 14450 per tonne and RMB14650 per tonne.


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EDITED BY : HEENA IQBAL 1MINS READ

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