Aluminium billet inventories in China grew further this week ended September 23, 2021, to stand at 157,000 tonnes. According to the Shanghai Metals Market, inventories rose by 8,200 tonnes over the week across the five major Chinese consumption areas. Huzhou and Changzhou were the leading contributors to the growth caused by sluggish demand amid Mid-Autumn Festival Holiday.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
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In Huzhou and Changzhou, aluminium billet inventories grew by 4,000 tonnes and 2,900 tonnes to come in at 15,000 tonnes and 15,900 tonnes, respectively. Inventories in Nanchang gained 1,500 tonnes over the week to settle at 18,500 tonnes, found SMM.
In Wuxi and Foshan, on the other hand, aluminium billet inventories dropped by 740 tonnes and 500 tonnes, respectively, to close at 23,200 tonnes and 84,400 tonnes as of September 23.
Demand from downstream aluminium extruders remained lacklustre. Furthermore, the power rationing intensified in Guangdong, resulting in some companies operate 2-1 or 0 days in a week.
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