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THINK ALUMINIUM THINK AL CIRCLE
Shanghai Metals Market data showed 6063 aluminium billet inventories increased by 27,400 tonnes this week, ending on Thursday, February 4, across five major consumption areas, including SHFE warrants. The stocks thus came in at 128,200 tonnes compared to 100,700 tonnes last week, mainly attributable to lower downstream demand ahead of the Chinese New Year (CNY) holiday.
The chart below indicates the current status of aluminium billet inventories across China in more details:
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Foshan has the highest growth in aluminium billet inventories of 13,500 tonnes to stand at 62,800 tonnes this week, followed by the hike in Wuxi and Nanchang of 4,700 tonnes to come in at 22,600 tonnes and 15,600 tonnes, respectively.
In Huzhou, aluminium billet inventories have grown by 3,000 tonnes to peg at 14,000 tonnes, while in Changzhou, the stocks have gained 1,500 tonnes to clock at 13,200 tonnes on February 4.
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