
Following a rise of 6,900 tonnes last week, aluminium billet inventories in China have declined today, on July 9, due to a surge in shipments from warehouses in east China. SMM data shows the stocks of 6063 aluminium billets across the five major Chinese consumption areas have edge down 900 tonnes over the week to stand at 72,300 tonnes.
The chart below indicates the current status of aluminium billet inventories across China in more details:
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As the above chart shows, the decline in aluminium billet inventories has not touched upon all the major Chinese markets today. Only in Wuxi, Changzhou, and Nanchang, the aluminium billet inventories have plunged by 1,800 tonnes, 1,340 tonnes, and 2,280 tonnes from the week ago, on July 2, to stand at 16,100 tonnes, 10,560 tonnes, and 8,920 tonnes, respectively.
In Foshan and Huzhou, the inventories have increased by 3,500 tonnes and 1,000 tonnes to come in at 24,700 tonnes and 12,000 tonnes, respectively.
On the decline in inventories due to a surge in shipments, the price of aluminium alloy (A356) today has jumped by RMB 150 per tonne to RMB 15,100 per tonne, found Shanghai Metals Market. But 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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