Shanghai Metals Market found aluminium billet stocks in the southern markets of China lowered significantly, leading to the further decline in inventories for the seventh consecutive week, as of November 28.
Data showed the inventories of 6063 aluminium billet across five major consumption areas in China fell 8,800 tonnes from a week ago to stand at 77,900 tonnes. On November 21, the billet inventories were at 86,700 tonnes after declining by 12,100 tonnes week-on-week.
The chart below indicates the current status of aluminium billet inventories across China in more details:
Not all Chinese cities have seen a downfall in aluminium billet inventories today. Only Foshan, Changzhou, and Nanchang have witnessed a fall. Compared to last Thursday, the inventories in Foshan has dropped by 9,100 tonnes to come in at 25,700 tonnes, while that in Changzhou and Nanchang by 3,600 tonnes and 3,200 tonnes to stand at 8,500 tonnes and 6,300 tonnes, respectively.
In other cities like Wuxi and Huzhou, the inventories have grown by 4,100 tonnes and 3,000 tonnes to hover at 22,400 tonnes and 15,000 tonnes.
But despite the further week-on-week fall in aluminium billet inventories, the price of aluminium alloys (ADC12) continues to remain restrained at RMB 14,750 per tonne, as on November 28, found SMM. The prices of aluminium alloy (A356) and aluminium alloy (A380) have shown restraint too, respectively, at RMB 14,650 per tonne and RMB 15,650 per tonne.
source https://www.alcircle.com/news/aluminium-billet-inventories-decline-for-the-seventh-consecutive-week-by-8800-tonnes-49494
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