China’s aluminium billet inventories gain 6400 tonnes this week on cargo arrivals
According to the Shanghai Metals Market, aluminium billet inventories in China have accumulated 6,400 tonnes over the week ending November 17, 2022, amounting to 60,600 tonnes. Last Thursday, November 10, inventories fell by almost the same amount (6,300 tonnes) to stand at 54,200 tonnes.
Increase in inventories this week could be attributed to the gradual arrivals of cargoes in Qinghai and Gansu, with the restoration of transportation capacity. To know the current status of aluminium billet inventories across China in more details, refer the chart below:
Rise in aluminium billet inventories this week is primarily led by Foshan, accumulating 11,000 tonnes over a year to stand at 39,000 tonnes as of Thursday, November 17. In Nanchang, the inventories have remained almost unchanged at 4,200 tonnes versus 4,100 tonnes a week ago.
On the other hand, Wuxi has witnessed a decline in aluminium billet inventories by 3,200 tonnes to clock at 7,000 tonnes, while inventories in Huzhou and Changzhou have inched down by 1,000 tonnes and 500 tonnes, respectively, to rest at 6,000 tonnes and 4,400 tonnes on November 17.
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