Aluminium billet inventories in China plunge by 156,200 tonnes W-o-W to 24,700 tonnes
The aluminium billet inventory decreased for four weeks in a row due to downstream processing companies receiving more orders during the customary peak season and operating at a higher capacity. As per the data, on Thursday, March 2, the inventories in China recorded a W-o-W plunge of 156,200 tonnes to stand at 24,700 tonnes, from 181,000 tonnes recorded a week ago.
The figure below provides further information on the current state of aluminium billet inventories in China:
The inventory in Foshan slumped by 13,000 tonnes to score at 80,100 tonnes from 93,100 tonnes recorded a week ago. As per the data, the inventory in Wuxi had fallen by 7,800 tonnes from 39,400 tonnes recorded last week to close at 31,600 tonnes on February 2. On the same day in Huzhou, the inventory had dropped by 4,000 tonnes to reside at 38,000 tonnes. Meanwhile, the inventories in Changzhou and Nanchang showed no change to close at 2,300 tonnes and 4,200 tonnes.
The total supply of aluminium billets will be constrained in the near future since the supply of molten aluminium in southwest China was reduced, and some manufacturers of aluminium billets in northwest China reduced or discontinued their production. According to SMM, the inventory would continue to decline the following week.
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