Aluminium billet inventory in China drops by 11,700 tonnes this week to close at 100,500 tonnes

Aluminium billet inventories in China dropped again by 11,700 tonnes week-on-week across five major consumption areas, found the Shanghai Metals Market.  As a result, the inventories closed at 100,500 tonnes as of Thursday, November 18.

The main reason behind the decline in aluminium billet inventories this week was primarily due to Foshan, whose inventory declined by 14.44 percent to close at 6,500 tonnes for the week, followed by Wuxi, whose inventory dropped by 13.54 percent to settle at 3,100 tonnes. The key causes include still-low billet arrivals and a heated transaction market amid declining aluminium prices that week, which resurrected the downstream market.

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

In Foshan, aluminium inventories dropped by 6,500 tonnes this week to stand at 38,500 tonnes. In Wuxi, inventories moved down by 3,100 tonnes to total at 19,800 tonnes. In Nanchang, inventories dropped by 300 tonnes to stand 13,000 tonnes.

In Changzhou also, the inventories dropped by 1,800 tonnes to close at 17,200 tonnes. On the other hand, stocks in Huzhou remained unchanged and settled at 12,000 tonnes.