China’s aluminium billet inventories gain 7,000 tonnes to 246,300 tonnes on March 4, 2021
Shanghai Metals Market data found a further rise in China’s 6063 aluminium billet inventories, although slower than the previous week, across the five major consumption areas, including SHFE warrants. Data shows the inventories have grown by 7,000 tonnes over the week, ending on Thursday, March 4, to peg at 246,300 tonnes. Last week, on February 25, aluminium billet stocks stood at 239,300 tonnes, increasing by 25,100 tonnes from the week ago.
The growth in inventories narrowed this week as the arrivals of cargoes were relatively low. The chart below indicates the current status of aluminium billet inventories across China in more details:
In Wuxi and Foshan, aluminium billet inventories have seen a hike of 5,400 tonnes and 5,300 tonnes to come in at 59,200 tonnes and 114,300 tonnes, respectively, while stocks in Huzhou have gained 3,000 tonnes to stand at 31,000 tonnes on Thursday, March 4.
In Nanchang, however, aluminium billet inventories have decreased by 6,700 tonnes to 18,100 tonnes as of March 4. In Nanchang, stocks remained restrained at 23,800 tonnes, found SMM.
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