Aluminium billet inventories in China nosedive by 34,700 tonnes this week on restocking due to lower prices

Shanghai Metals Market data showed on Thursday, March 25, that aluminium billet inventories in China decreased by 34,700 tonnes from a week ago across five major consumption areas, including SHFE warrants, to come in at 198,200 tonnes.

Lower aluminium prices in the previous two days led to centralised restocking in the downstream, resulting in outbound quantity surge and a large short-term decline in aluminium billet inventories.

Last week, on March 18, China’s aluminium billet inventories reduced by 3,900 tonnes week-on-week to stand at 232,900 tonnes.

The chart below indicates the current status of aluminium billet inventories across China in more details:

In Foshan, aluminium billet inventories plunged by 10,300 tonnes over the week to peg at 100,300 tonnes as of March 25, followed by the fall of 10,000 tonnes to 52.900 tonnes in Wuxi. In Hangzhou, aluminium billet stocks stood 9,000 tonnes lower week-on-week to settle at 15,000 tonnes, while the stocks in Nanchang and Changzhou fell 3,000 tonnes and 2,400 tonnes to come in at 9,800 tonnes and 20,200 tonnes, respectively.