China’s aluminium billet inventories drop by 6,200 tonnes W-o-W to 135,100 tonnes
As of June 1, the domestic aluminium billet social inventory closed at 135,100 tonnes, down 6,200 tonnes from the previous week. Arrivals climbed dramatically, but transactions did not keep pace. A growing proportion of molten aluminium was into billets and other intermediate products.
The current inventory remains the greatest compared to the same time in the previous three years. The figure below provides further information on the current state of aluminium billet inventories in China:
The inventories in Wuxi and Changzhou hiked by 1,600 tonnes and 1,300 tonnes to halt at 22,200 tonnes and 8,700 tonnes, followed by a growth of 1,000 tonnes in Huzhou to settle at 18,000 tonnes. On the other hand, the inventory in Foshan nosedived by 10,000 tonnes to score 81,600 tonnes from 91,600 tonnes W-o-W.
As per the data, the inventory in Nanchang dipped by 100 tonnes to stop at 4,600 tonnes from 4,700 tonnes W-o-W.
China’s domestic A00 aluminium ingot price declines over the weekend below RMB18500/t
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