Aluminium billet inventories in China drop by 900 tonnes this week to clock at 74,600 tonnes
According to the Shanghai Metals Market, aluminium billet inventories in China dropped by 900 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled at 74,600 tonnes as of Thursday, December 23.
Only the inventory in Foshan increased by 4,200 tonnes, or 13.68 percent, while stockpiles in Wuxi, Changzhou, and Nanchang all decreased, with Changzhou accounting for the majority of the losses (down 3,100 tonnes, or 25.83 percent). Weekly arrivals of aluminium billet were remained at a low level, according to the warehouses, as producers were less interested in making shipments due to dropping RCs. Some makers of aluminium billets even intended to cut back on manufacturing.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Wuxi, aluminium inventories dropped by 1,300 tonnes this week to stand at 12,800 tonnes. In Changzhou, the inventories slipped by 3,100 tonnes to total at 8,900 tonnes. In Nanchang, the inventories went down by 700 tonnes stand at 7,000 tonnes.
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In Foshan, the price hiked by 4,200 tonnes to come in at 30,700 tonnes. In Huzhou, the price remained unchanged to close at 11,000 tonnes.
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