As updated by Shanghai Metals Market, Stocks of 6063 aluminium billet across five major consumption areas in China stood at 212,400 tonnes as of Thursday February 27, an increase of 19,300 tonnes from February 20. The inventory expanded 22,500 tonnes in the week ended February 20. The rise in inventories was due to limited shipments from warehouses and stable arrivals.
The chart below indicates the current status of aluminium billet inventories across China in more details:
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Inventories of aluminium billet in Foshan, Wuxi, and Changzhou came in at 86,400 tonnes, 53,900 tonnes, and 21,400 tonnes on Thursday, up 13,900 tonnes, 12,600 tonnes, and 1,400 tonnes from February 20. But the stocks in Huzhou and Nanchang dropped to stand at 30,000 tonnes and 20,800 tonnes.
The aluminium alloy (ADC12) price on Thursday, 27 February 2020 stood at RMB 14,950 per tonne and is expected to move within a range of RMB 14,850 per tonne-15,050 per tonne. That was down RMB 50 per tonne or 0.33 per cent. The price of aluminium alloy in East and South dropped by RMB 50 per tonne each to stand at RMB 14,950 per tonne and RMB 14,850 per tonne.
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