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23 MARCH 2023 AL CIRCLE

China’s aluminium billet inventories dip by only 1,500 tonnes, thanks to smooth arrivals of stocks on stable output

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the Shanghai Metals Market survey, China’s aluminium billet inventories again decreased week-on-week but at a lower rate as of Thursday, March 23, after the two former weeks of hikes. As per the SMM data, the inventories dipped by 1,500 tonnes from a week ago to amount to 167,900 tonnes. Last Thursday, March 16, the billet inventories climbed 6,000 tonnes W-o-W to peg at 169,400 tonnes.

China’s aluminium billet inventories dip by only 1,500 tonnes, thanks to smooth arrivals of stocks on stable output

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Stable aluminium production across China this week ensured smooth arrivals of stocks. Due to the widening price difference, more billets flowed to Foshan than Wuxi, resulting in a growing stock in Foshan and a decline in Wuxi.

To know the current status of aluminium billet inventories across China in more details, refer to the chart below:

China’s aluminium billet inventories dip by only 1,500 tonnes, thanks to smooth arrivals of stocks on stable output

According to SMM, aluminium billet inventories only decreased in Wuxi this week, while the stocks in other provinces recorded hikes. In Wuxi, the inventories slumped by 7,400 tonnes W-o-W to 34,800 tonnes as of March 23.

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On the other hand, in Foshan and Changzhou, billet inventories increased by 29,000 tonnes and 27,000 tonnes, respectively, to stand at 93,400 tonnes and 5,700 tonnes. In Nachang, billet stocks grew by 3,000 tonnes to 4,000 tonnes, while in Huzhou remained restrained at 30,000 tonnes, found SMM.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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