Aluminium billet inventory in China descends by 24,500mt this week to settle at 138,300mt
According to the Shanghai Metals Market (SMM), aluminium billet inventories in China descended by 24,500 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled at 138,300 tonnes on Thursday, November 4.
The major reason behind the decline in aluminium billet inventories this week was mainly due to Foshan, whose inventory plummeted 22,300 tonnes, or 27.33 percent, for the week, followed by Nanchang's inventory dropping 3,000 tonnes, or 14.29 percent. Changzhou's stockpile increased by 1,500 tonnes, or 8.82 percent, from a week before.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium inventories descended by 22,300 tonnes this week to total at 59,300 tonnes. In Nanchang, inventories settled down by 3,000 tonnes to settle at 18,000 tonnes. In Changzhou, inventories increased by 1,500 to settle at 18,500 tonnes.
On the other hand, stocks in Wuxi remain unchanged and in Huzhou it moved down by 1,000 tonnes to score at 13,000 tonnes.
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