China’s aluminium billet inventories fell by 5,900 tonnes on Monday due to heavy shipments

According to the Shanghai Metals Market survey, China’s social inventories of aluminium billets have marked a decline of 5,900 tonnes over the weekend, standing at 107,700 tonnes as of Monday, October 30. On a week-on-week basis, the inventories have recorded a fall of 7,200 tonnes from 114,900 tonnes on October 23.

The decline in inventories could be attributed to the increase in shipments compared to the arrivals of stocks to warehouses. During October 24-30, aluminium billet shipments in major Chinese consumption areas totalled 47,300 tonnes, up by 16.79 per cent from 40,500 tonnes a week ago.

The fall in billet inventories on Monday was primarily contributed by Foshan, in tandem with the highest shipment in that particular province at about 25,400 tonnes, up by 4,100 tonnes W-o-W. To know the current status of aluminium billet inventories across China in more detail, refer to the chart below:

According to the data mentioned in the chart above, aluminium billet inventories in Foshan stood at 44,000 tonnes as of Monday, October 30, after experiencing a fall of 3,500 tonnes from October 26. In Huzhou, the inventories dropped by 3,000 tonnes over the weekend, from 23,000 tonnes on October 26 to 20,000 tonnes on October 30. The inventories in Changzhou dipped by only 500 tonnes to stand at 9,300 tonnes on October 30 compared to 9,800 tonnes on October 26.

Meanwhile, in Wuxi and Nanchang, aluminium billet inventories registered an increase of 1,000 tonnes over the weekend to reach 26,900 tonnes and 7,500 tonnes, respectively.