China’s aluminium billet inventories close this week at 21% lower: SMM

According to the Shanghai Metals Market data, aluminium billet inventories in China have recorded a plunge of 17,300 tonnes or 21.05 per cent week-on-week across the five major Chinese consumption areas.  Thus, the inventories have come in at 64,900 tonnes on December 21 compared to 82,200 tonnes on December 14.

The W-o-W decline on December 21 was primarily contributed by Foshan, followed by Huzhou and Wuxi. The chart below indicates the current status of Chinese aluminium billet inventories in more details:

In Foshan, aluminium billet inventories shrank by 9,800 tonnes from a week ago to settle at 30,100 tonnes as of December 21. Huzhou is the second-highest contributor to the weekly downfall in China’s aluminium billet inventories, as the province recorded a fall of 4,000 tonnes to 12,000 tonnes on December 21. In Wuxi, aluminium billet inventories have settled at 11,700 tonnes, down by 2,300 tonnes from 14,000 tonnes.

Nanchang has relatively seen a lower rate of decline this week standing at 8,000 tonnes compared to 9,000 tonnes on December 14. Changzhou, on the other hand, has dipped by only 200 tonnes week-on-week to 3,300 tonnes, found SMM.