Aluminium billet inventories in China continue to rise by some 700 tonnes this week

According to Shanghai Metals Market, the inventories of 6063 aluminium billet have extended week-on-week growth by some 700 tonnes today, August 1, across five major consumption areas in China to stand at 83,400 tonnes. On July 25, the inventories were at 82,700 tonnes after rising by some 1,600 tonnes from its previous week. This indicates a slower growth this week ended on August 1, 2019.

In Changzhou, Jiangsu, the aluminium billet inventories have risen by some 1000 tonnes to stand at 12,000 tonnes, as of August 1, while in Nanchang, Jiangxi, and Wuxi, Jiangsu, the inventories have increased by 700 tonnes and 100 tonnes to stand at 5,300 tonnes and 14,700 tonnes respectively. In markets like Foshan, Guangdong, and Huzhou, Zhejiang, the inventories have either remained restrained or have slipped from the previous week.

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

Amidst the growth in aluminium billet inventories, the price of aluminium alloy (ADC 12) has decreased in the southern market by some RMB 50 per tonne to stand at RMB 13,950 per tonne, found Shanghai Metals Market. The prices of aluminium alloy (A356) and aluminium alloy (A380) have remained muted at RMB 14,550 per tonne and RMB 14,850 per tonne.

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