According to Shanghai Metals Market, the aluminium billet inventories have extended decline over the week ending Thursday, April 30, as brisk consumption has lowered stocks in Wuxi, Huzhou, and Changzhou.
SMM data shows the stocks of 6063 aluminium billet have plunged by 16,3000 tonnes across five major consumption areas in China, marking the eighth consecutive week of decline. The billet inventories are thus, currently standing at 129,400 tonnes, following the decline of 19,300 tonnes last week.
{alcircleadd}The chart below indicates the current status of aluminium billet inventories across China in more details:
As the chart above shows, the inventories in Wuxi, Changzhou, Huzhou, and Nanchang have decreased by 15,180 tonnes, 5,080 tonnes, 2,000 tonnes, and 300 tonnes to stand respectively at 25,300 tonnes, 17,770 tonnes, 14,000 tonnes, and 5,200 tonnes, as of April 30. In Foshan, however, the inventories have surged by 6,300 tonnes to come in at 67,100 tonnes, according to SMM.
But despite the decline in aluminium billet inventories today, the prices of aluminium alloys have recorded no change. While the aluminium alloys (ADC12) price has remained restrained at RMB 13,900 tonnes, the prices of aluminium alloy (A356) and aluminium alloy (A380) remained muted at RMB 13,500 per tonne and RMB 14,800 per tonne, respectively.
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