Aluminium billet inventory in China escalates by 36,500 tonnes to peg at 176,900 tonnes
The aluminium billet inventories in China escalated by 36,500 tonnes week-on-week across five major consumption areas. As a result, the inventories registered at 176,900 tonnes, as of Thursday, January 20.
Except for Huzhou, all of the other four markets had increases in inventories. The majority of the rise came from inventory in Foshan and Wuxi, which increased by 21,500 mt and 13,200 mt, respectively, up 29.53 percent and 54.77 percent on a weekly basis. This week, downstream orders decreased even further, resulting in a drop in demand for aluminium billet.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, the aluminium inventories in China grew by 21,500 tonnes to stand in at 72,800 tonnes. In Wuxi, inventories moved up by 13,200 to close in at 24,100 tonnes.
On the other hand in Changzhou and Nanchang the inventories showed a hike of 2,100 tonnes and 2,700 tonnes to come in at 13,000 tonnes and 19,000 tonnes.
Only in Huzhou the inventories slipped by 3,000 tonnes to record at 11,550 tonnes.
Hindalco’s aluminium wire rod & billets prices see a hike for the third consecutive time by INR3000/t on January 20
Next articleUS aluminium plates, sheets and bars export to Canada slumps by 19.79% Y-o-Y in October 2021
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