The aluminium billet inventories in China moved up by 34,700 tonnes week-on-week across five major consumption areas. As a result, the inventories clocked at 211,600 tonnes, as of Thursday, January 27.
Inventories increased in each of the five major markets. Most of the rise came from inventories in Foshan and Wuxi, which increased by 14,600 tonnes and 12,600 tonnes, respectively, representing 15.48% and 33.78% week-on-week increases. On the eve of the Chinese New Year, the downstream virtually came to a halt, resulting in slow transactions.
{alcircleadd}The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, the aluminium inventories grew by 14,600 tonnes to score at 108,900 tonnes.
In Wuxi, inventories escalated by 12,600 tonnes to peg at 49,900 tonnes. In Changzhou also the price had increased 1,100 tonnes to peg at 16,200 tonnes.
In Huzhou the price has surged by 2,000 tonnes to close at 18,000 tonnes. In Nanchang, the price has moved up by 4,400 tonnes to total at 18,600 tonnes.
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