Aluminium billet inventories in China shrink by 10,000 tonnes this week to stand at 75,500 tonnes
According to the Shanghai Metals Market, aluminium billet inventories in China dropped by 10,000 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled at 75,500 tonnes as of Thursday, December 16.
Except for Huzhou, where inventory remained unchanged from the previous week, all four markets witnessed local social inventory fall to varied degrees. Wuxi and Nanchang were responsible for the majority of the decreases, with inventories falling by 5,000 mt and 2,800 mt, respectively, a loss of 26.18 percent and 26.67 percent week on week. According to warehouse feedback, aluminium billet arrivals were low, particularly in Wuxi and Nanchang, as aluminium billet makers were less eager to make shipments when conversion margins were low recently.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium inventories slumped by 1,800 tonnes this week to come in at 30,700 tonnes. In Wuxi, inventories moved down by 5,000 tonnes to close in at 14,100 tonnes. In Changzhou, inventories slipped by 400 tonnes to register at 12,000 tonnes.
In Huzhou, the inventories remained unchanged and stood at 11,000 tonnes. In Nanchang, inventories shrunk by 2,800 tonnes to close at 77, 00 tonnes.
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