According to the Shanghai Metals Market, aluminium billet inventories in China surged by 27,300 tonnes week-on-week across five major consumption areas. As a result, the inventories recorded at 140,500 tonnes, as of Thursday, January 13.
With the exception of Huzhou, inventories increased in all of the key production locations. On a weekly basis, Foshan's inventory increased by 20,300 tonnes, or 38.67%, while Wuxi's inventory increased by 6,400 tonnes, or 36.16%. The imports of aluminium billets were concentrated, according to the warehouses, but outflows from warehouses declined sharply as downstream orders were lacklustre ahead of the Chinese New Year.
{alcircleadd}The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium inventories in China showed a surge of 20,300 tonnes to settle at 72,800 tonnes. On the other hand, in Wuxi aluminium inventories showed an increase of 6,400 tonnes to peg at 24,100 tonnes.
In Changzhou, aluminium inventories showed an ascend of 1,300 tonnes to register at 13,000 tonnes. In Nanchang, the inventories showed an hike of 4,250 tonnes to close at 11,550 tonnes. Only in Huzhou, aluminium inventories showed a decrease of 5,000 tonnes to settle at 19,000 tonnes.
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