On May 25, aluminium billet inventory in China closed at 141,300 tonnes, dropping 20,700 tonnes W-o-W. This year, smelters increased their percentage of non-ingot production. After a period of building after the Labour Day vacation, aluminium billet inventory has begun to decline.
After a period of building after the Labour Day vacation, aluminium billet inventory has begun to decline. However, the drop has slowed, and inventory is about the same as it was at the end of April, and it remains the highest level in the previous three years. SMM anticipates a modest decrease in aluminium billet inventories next week and production buts by billet producers this month.
The figure below provides further information on the current state of aluminium billet inventories in China:
The inventories have declined in all the provinces, except in Changzhou, where it has remained unchanged to come in at 7,400 tonnes. In Huzhou, the inventory has plunged by 5000 tonnes W-o-W to score 17,000 tonnes.
In Foshan, the inventory has dropped by 14,800 tonnes to close at 91,600 tonnes, followed by a dip of 600 tonnes to close at 20,600 tonnes in Wuxi. In Nanchang, the inventory has dipped by 300 tonnes to halt at 4,700 tonnes.
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