Aluminium billet inventory in China falls by 21,600 tonnes this week to stand at 78,900 tonnes
Aluminium billet inventories in China dwindled by 21,600 tonnes week-on-week across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories settled at 78,900 tonnes as of Thursday, November 25.
The inventories in Foshan and Huzhou declined the most, while Wuxi and Changzhou also saw drops. According to SMM, the major reason for the increase is that the downstream sector bought on the rise as aluminium prices continued to rise in the week, reaching RMB 19,320 per tonne in east China, up RMB 980 per tonne from a week before. Meanwhile, due to adverse weather in north-west China, transportation capacity was decreased, causing arrivals from north to south China to be postponed. The number of weekly arrivals in south China was quite low.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium inventories dropped by 8,100 tonnes this week to stand at 30, 400 tonnes. In Wuxi, inventories moved down by 3,410 tonnes to total at 16,390 tonnes. In Changzhou, inventories dropped by 4,300 tonnes to stand 12,900 tonnes.
In Huzhou, also the inventories dropped by 6,000 tonnes to close at 6,000 tonnes. On the other hand in Nanchang, the inventories inched up by 200 tonnes to settle at 13,200 tonnes.
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