Aluminium billet inventories in China built up 9,900 tonnes on week
Shanghai Metals Market found a rise in aluminium billet inventories on Thursday, August 6, as arrivals at stocks increased in Guangdong and Jiangxi.
SMM data showed that 6063 aluminium billet stocks across the five major consumption areas in China built up by 9,900 tonnes from a week ago to come in at 75,800 tonnes. On last Thursday, July 30, the stocks fell by 2,700 tonnes with a significant decline in arrivals at warehouses.
The chart below indicates the current status of aluminium billet inventories across China in more details:
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As the hike in inventories did not touch upon all the major Chinese cities, only Nanchang, Foshan, and Changzhou saw an increase in stocks. While in Nanchang and Foshan, the aluminium billet inventories surged by 8,050 tonnes and 4,600 tonnes to respectively stand at 15,950 tonnes and 21,700 tonnes, Changzhou saw a mere growth of 110 tonnes to come in at 10,170 tonnes. In Wuxi and Huzhou, the inventories dipped by 1,890 tonnes and 1,000 tonnes to hover at 15,970 tonnes and 12,000 tonnes.
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