Chinese aluminium billet inventories record a rise, but slower from last week

According to Shanghai Metals Market, aluminium billet inventories in China have extended their growth this week, although slower from a week ago. Increased shipments from warehouses have been the main reason behind another week of a rise in billet inventories.

SMM data shows the stocks of 6063 aluminium billet have grown by 6,400 tonnes over the week across five major consumption areas in China, in contrast to a growth of week-on-week 19,300 tonnes last Thursday, February 27. The inventories, as of March 5, stand at 218,900 tonnes.

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

Chinese aluminium billet inventories record a rise, although slower from last week

The billet inventories in Foshan, Wuxi, and Changzhou have increased by 11,200 tonnes, 6,100 tonnes, and 700 tonnes to stand at 97,600 tonnes, 60,000 tonnes, and 22,100 tonnes, respectively. But in Huzhou and Nanchang, the inventories have dropped by 5,000 tonnes and 6,600 tonnes to respectively come in at 25,000 tonnes and 14,200 tonnes.

On the increased billet inventories, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have recorded a plunge of RMB 50 per tonne to RMB 14,750 per tonne and RMB 15,650 per tonne. The price of aluminium alloy (A356) has, however, grown by RMB 50 per tonne to RMB 13,800 per tonne.

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