China’s aluminium billet inventories gain 6,500 tonnes this week on muted downstream purchase
Aluminium billet inventories in China have recorded an increase of 6,500 tonnes across five major consumption areas to come in at 145,500 tonnes on Thursday, September 9, found the Shanghai Metals Market. Last week, on September 2, China’s aluminium billet inventories stood at 139,000 tonnes growing by 14,600 tonnes week-on-week.
The rise in aluminium billet inventories this week could be attributed to the muted downstream purchase caused by soaring aluminium prices. In addition, arrivals of stocks increased against sluggish orders at extrusion companies.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
The increase in inventories this week has solely been contributed by Foshan, building up 11,600 tonnes to 79,000 tonnes as of September 9. On the other hand, inventories in Nanchang and Huzhou have lost 2,500 tonnes and 2,000 tonnes, respectively, to come in at 19,000 tonnes and 11,000 tonnes.
In Wuxi and Changzhou, inventories have dropped slightly by 380 tonnes and 200 tonnes, respectively, to stand at 21,500 tonnes and 15,000 tonnes.
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