Aluminium billet inventories decline slower after tax cuts take effect

SHANGHAI, Apr 4 (SMM) – Stocks of 6063 aluminium billet across five major consumption areas in China saw a smaller decline this week as purchases weakened after value-added tax cuts took effect.

As of Thursday April 4, the inventories fell some 8,700 mt from a week ago to stand at 112,000 mt, SMM data showed.

Aluminium billet inventories have fallen for four consecutive weeks and posted a decline of 17,000 mt last week.

Details:

Foshan, Guangdong – 80,600 mt

Wuxi, Jiangsu – 13,900 mt

Changzhou, Jiangsu – 7,300 mt

Huzhou, Zhejiang – 7,000 mt

Nanchang, Jiangxi – 3,200 mt