Aluminium billet inventories grow by 2,600 tonnes W-o-W to 71,600 tonnes
On Thursday, December 8, the social inventory of aluminium billets was 71,600 tonnes, up 2,600 tonnes from the previous week but down 4,300 tonnes from the previous Monday, December 5. The inventory increased by 4,300 tonnes from November's end but decreased by 13,900 tonnes from the prior year. Aluminium billets can be produced immediately by continuous casting, extrusion, or hot rolling an ingot or bloom.
The figure below provides further information on the current state of aluminium billet inventories in China:
As per the SMM reports, the aluminium billet inventories had increased in almost all the major provinces. The inventories in Foshan and Huzhou had ascended by 3,900 tonnes and 1,000 tonnes to settle at 48,300 tonnes and 8,000 tonnes.
On the other hand, in Wuxi and Changzhou, the inventories slipped by 1,000 tonnes to score at 7,900 tonnes and 3,300 tonnes. In Nanchang, the inventory lost 300 tonnes to close at 4,100 tonnes from 4,400 tonnes recorded a week ago.
_0_0.gif)
On the consumer side, downstream orders for aluminium billet decreased as the Chinese New Year drew near, and the need for restocking also reduced. So, the social inventory of aluminium billets will keep growing the following week.
Biden administration strongly condemns WTO's rejection of Trump imposed tariffs on aluminium and steel
Next articleSplit-off for Inalum signed; needs to focus on capacity expansion projects
Grow with
AL Circle
