China’s aluminium billet inventories increase 14,600 tonnes this week on large arrivals of stocks and weaker purchases
According to the Shanghai Metals Market data, aluminium billet inventories in China built-up 14,600 tonnes or 11.7 per cent from a week ago to stand at 139,000 tonnes on Thursday, September 2. Last week, on August 26, China’s aluminium billet inventories hovered around 124,400 tonnes after declining by 6,200 tonnes across five major consumption areas.
Large arrivals at warehouses amid weaker purchases resulted in inventory accumulation, found SMM. Downstream aluminium extrusion companies reduced purchases due to poor orders and high aluminium prices.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, aluminium billet inventory jumped by 10,500 tonnes to come in at 67,400 tonnes on September 3. In Nanchang, inventory grew by 3,500 tonnes to stand at 21,500 tonnes, while inventory in Changzhou inched up by 1,000 tonnes to settle at 15,200 tonnes.
Meanwhile, in Wuxi, aluminium billet inventory dropped by 410 tonnes to stand at 21,880 tonnes, while inventory in Huzhou remained restrained at 13,000 tonnes.
Sweden’s export of aluminium powder and flakes during 2018-21 showcases a sharp rise with the downward trend
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