Aluminium billet inventories in China build-up 14% this week to 100,700 tonnes: SMM
According to the Shanghai Metals Market, aluminium billet inventories in China have built-up 12,400 tonnes or 14 per cent from a week ago to come in at 100,700 tonnes as of Thursday, June 17. With aluminium prices still fluctuating at a high level, there has been a seasonal weakening of consumption, resulting in poor enthusiasm of receiving goods among the downstream aluminium sector.
Last week on June 10, aluminium billet inventories dipped by 1,100 tonnes week-on-week to stand at 88,400 tonnes.
The chart below indicates the current status of aluminium billet inventories across China in more details:
In Foshan, aluminium billet inventories have increased the highest this week by 7,100 tonnes to come in at 47,800 tonnes, followed by the growth of 4,200 tonnes in Nanchang to 23,000 tonnes on June 17. In Changzhou, the inventories have inched up by 1,900 tonnes to 7,800 tonnes.
However, in Wuxi, aluminium billet inventories this week have decreased by 830 tonnes to peg at 12,130 tonnes, while the stocks in Huzhou have remained restrained at 10,000 tonnes.
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