Aluminium billet inventories in China ascend by 15,600 tonnes to 157,700 tonnes
On Thursday, May 4, China’s aluminium billet social inventory closed at 157,700 tonnes, up by 15,600 tonnes from the previous week. The increase was primarily attributable to arrivals over the Labour Day vacation and inadequate pre-holiday stockpiling.
Smelters have been selling an increasing proportion of their molten aluminium to neighbouring billet factories since demand has been unable to keep up with supply growth. In addition, demand fell in late April. As a result, falling aluminium billet inventories will be tough.
The figure below provides further information on the current state of aluminium billet inventories in China:
The inventories had shown growth in all the provinces. In Foshan and Huzhou, the inventories had surged by 6,900 tonnes and 3,000 tonnes to reside at 95,600 tonnes and 25,000 tonnes.
On the same day, Wuxi and Nanchang closed at 24,600 tonnes and 6,700 tonnes. In Changzhou, the inventory increased by 300 tonnes to halt at 5,800 tonnes.
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