Aluminium billet inventories in China grow for the third week in a row to 148,840 tonnes
According to the Shanghai Metals Market, aluminium billet inventories in China have grown for the third week in a row, albeit lower than the previous weeks. SMM data shows the inventories have gained only 3,340 tonnes across five major consumption areas to stand at 148,840 tonnes on September 16. Last week, China’s aluminium billet inventories came in at 145,500 tonnes after increasing by 6,500 tonnes week-on-week.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
The rise in aluminium billet inventories is contributed by Foshan and Wuxi this week. In Foshan, inventories have increased by 4,900 tonnes or 6.2 per cent to 83,900 tonnes and that in Wuxi have grown by 2,400 tonnes or 11.34 per cent to come in at 23,940 tonnes.
In Nanchang and Changzhou, aluminium billet inventories have decreased by 2,000 tonnes to 17,000 tonnes and 13,000 tonnes respectively, while inventories in Huzhou have remained restrained at 11,000 tonnes, learned SMM.
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