Aluminium billet inventories in China expand by 2,400 tonnes W-o-W to 63,000 tonnes
On Thursday, November 24, the domestic social inventory of aluminium billet increased by 2,400 tonnes from a week before 63,000 tonnes. Reduced production in northwest China and disruption of production and railway transport in Shandong supported local conversion margins to the east and north. Arrivals were somewhat constrained due to ongoing difficulties with shipments from Qinghai and Gansu.
Below is a chart illustrating China's current aluminium billet inventory situation:
As per the data, massive arrivals in Xinjiang increased the inventories in Foshan by 1,100 tonnes to 40,100 tonnes. In Wuxi, the inventory gained 1,400 tonnes to score 8,400 tonnes from 7,000 tonnes recorded a week before. Only in Changzhou, the inventory had contracted by 100 tonnes to close at 4,300 tonnes from 4,400 tonnes a week ago.
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However, inventories in Huzhou and Nanchang remained restrained at 6,000 tonnes and 4,200 tonnes. Despite limited availability in some areas, the overall conversion margins shrank as the off-season approached because of slow business.
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