China’s aluminium billet inventories gain 12,600 tonnes this week on feeble demand with the arrival of traditional off-season
According to the Shanghai Metals Market, aluminium billet inventories have built up 12,600 tonnes or 11 per cent this week on Thursday, July 8, to stand at 123,800 tonnes. SMM found that with the arrival of the traditional off-season, the demand and consumption of downstream aluminium fell, resulting in the increase in inventories. It is expected that outbound quantity of aluminium billet will decrease next week and it is more likely that aluminium billet inventories will continue to pile up.
Last week, aluminium billet inventories gained by only 1,400 tonnes from the previous week as aluminium billet outbound volume rose by 12,800 tonnes to 51,100 tonnes.
The chart below indicates the current status of aluminium billet inventories across China in more details:
Wuxi has seen the highest rise in aluminium billet inventories this week by 5,560 tonnes to 18,240 tonnes, as of July 8. Inventories in Foshan have expanded by 3,500 tonnes to come in at 57,400 tonnes, while that in Changzhou and Nanchang have grown by 2,200 tonnes and 1,350 tonnes to settle at 12,700 tonnes and 24,500 tonnes, respectively.
Meanwhile, in Huzhou, aluminium billet inventories have remained restrained at 11,000 tonnes.
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