China's aluminium billet inventories build up 15,100 tonnes W-o-W to exceed 90,000 tonnes: SMM
Social inventories of aluminium billets in China have further built up 15,100 tonnes week-on-week to peg at 95,000 tonnes on January 12 across the five major consumption areas. Except for Changzhou, all the major markets have witnessed a growth in billet inventories this week, driven by high shipments from southwest China and rapidly cooling demand after downstream users took an early break for the Chinese New Year holiday.
The chart below indicates the current status of aluminium billet inventories across China in more details:
This week, Foshan has contributed the highest to the billet inventories growth, accumulating 10,900 tonnes over the week to 45,400 tonnes, found the Shanghai Metals Market. Inventories in Wuxi and Huzhou have experienced a gain of 3,000 tonnes and 2,000 tonnes, respectively, to stand at 22,000 tonnes as of January 12.
Meanwhile, aluminium billet inventories in Nanchang have remained restrained at 3,500 tonnes, while the inventories in Changzhou have dipped by 800 tonnes to peg at 1,900 tonnes, according to SMM.
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