Aluminium billet inventories extend declines as tax cuts spur purchases

SHANGHAI, Mar 28 (SMM) – Stocks of 6063 aluminium billet across five major consumption areas in China fell for a third straight week this week as the upcoming value-added tax cuts drove downstream consumers to purchase.

As of Thursday March 28, the inventories fell 17,000 mt from a week ago to stand at 120,600 mt, SMM data showed.

Details:

Foshan, Guangdong – 84,600 mt

Wuxi, Jiangsu – 15,300 mt

Changzhou, Jiangsu – 10,500 mt

Huzhou, Zhejiang – 6,000 mt

Nanchang, Jiangxi – 4,200 mt