Aluminium billet inventory records growth of some 2,700 tonnes; aluminium alloy price inches down

On more cargo arrivals in China post Labour Day Holiday from May 1 to May 4, stocks of 6063 aluminium billet across five major consumption areas recorded a growth on May 5, found Shanghai Metals Market. The inventories thus, stood at 94,900 tonnes after rising by some 2,700 tonnes from April 25.  

After seven consecutive weeks of decline until April 25, 6063 aluminium billet inventories finally marked a rise yesterday. As of April 25, inventories had fallen some 6,400 tonnes from April 18, to come in at 92,200 tonnes, SMM data showed.

Coming back to today’s inventory status, Changzhou, Jiangsu and Huzhou, Zhejiang registered a growth yesterday by some 1,000 tonnes and 2,000 tonnes from April 25 to stand at 7,500 tonnes and 10,000 tonnes respectively. Recording the highest jump, the billet inventory in Nanchang, Jiangxi stood at 7,700 tonnes, compared with 3,900 tonnes on April 25. Foshan, Guangdong and Wuxi, Jiangsu, however, registered decline from 55,300 tonnes to 53,100 tonnes and from 18,500 tonnes to 16,600 tonnes, respectively.

On the rise of billet inventories, the price of aluminium alloys (ADC12) has inched down today, May 6, by RMB 10 per tonne to RMB 14,550 per tonne. Aluminium alloy (A356) and aluminium alloy (A380) prices have declined too by RMB 10 per tonne each to stand at 14,750 per tonne and RMB 15,350 per tonne.