China’s aluminium billet inventories bid goodbye to 9,600 tonnes this week
According to the Shanghai Metals Market survey, China’s social inventories of aluminium billet plunged by 9,600 tonnes week-on-week to settle at 158,400 tonnes as of March 30. The inventories extended downfall at a higher rate this week compared to a drop of 1,500 tonnes in the week ended March 23.
Some warehouses in east China stopped obtaining billet stocks, contributing to lower inventories. Besides, a generous amount of billet stocks directly arrived at downstream processing plants instead of social warehouses, which also contributed to the weekly inventory downfall.
To know more about the current status of aluminium billet inventories across China, refer to the chart below:
Wuxi and Huzhou were the two provinces this week that contributed to the fall of aluminium billet inventories. In Wuxi, billet inventories fell 6,500 tonnes W-o-W to rest at 28,400 tonnes, followed by a decline of 5,000 tonnes in Huzhou to 25,000 tonnes.
On the other hand, aluminium billet inventories in Foshan accumulated 1,600 tonnes over a week to close at 95,000 tonnes, and that in Changzhou and Nanchang inched up by 200 tonnes and 100 tonnes to come in at 5,900 tonnes and 4,100 tonnes, respectively.
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