Aluminium billet inventories in China decrease for the fourth week in a row to 112,200 tonnes: SMM
Aluminium billet inventories in China have decreased for the fourth straight week by 26,100 tonnes or 18.87 per cent across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories have come in at 112,200 tonnes as of Thursday, November 11, primarily contributed by the decline in stocks at Foshan and Wuxi.
Looking forward, aluminium billet inventories are likely to remain in the downward trend as there are no opportunities of extra stock arrivals next week.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium billet inventories have plunged by 14,300 tonnes to settle at 45,000 tonnes on November 11, while inventories in Wuxi have decreased by 6,600 tonnes to stand at 22,900 tonnes. In Nanchang and Huzhou, aluminium billet inventories have declined by 4,700 tonnes and 1,000 tonnes, respectively, to come in at 13,300 tonnes and 12,000 tonnes.
Meanwhile, in Changzhou, aluminium billet inventories have inched up by 500 tonnes to close at 19,000 tonnes on November 11, found the Shanghai Metals Market.
Grow with
AL Circle
