Aluminium billet inventories in China slump by 500 tonnes W-o-W to 119,700 tonnes
On Thursday, September 1, China’s aluminium billet inventories descended by 500 tonnes or 0.41 per cent W-o-W to settle at 119,700 tonnes. All the other regions showed a decrease in inventory, except Foshan. Following the drop in aluminium prices, some small-scale restocking activities were noted. The stockpile of aluminium billets is not anticipated to decrease, given that downstream business orders have not significantly improved.
The figure below provides further information on the current state of aluminium billet inventories in China:
The inventory in Foshan grew by 3,900 tonnes or 5.46 per cent to settle at 75,200 tonnes from 71,300 tonnes recorded last week. On the other hand, the inventory in Huzhou plunged by 3,000 tonnes or 5.78 per cent, to stop at 16,000 tonnes. In Changzhou and Huzhou, the destocking may not last very long. After the power restriction was lifted, Sichuan's aluminium smelters are gradually starting to produce again.
For the same day, the inventory in Changzhou and Wuxi dropped by 900 tonnes or 12.5 per cent and 400 tonnes or 2.12 per cent to record at 6,300 tonnes and 18,400 tonnes, respectively. As per the data, the inventory in Nanchang went down by 100 tonnes or 2.56 per cent, to close at 3,800 tonnes.
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