China’s aluminium billet inventories record a W-o-W decline of 10,600 tonnes

On Thursday, April 27, the domestic aluminium billet social inventory plunged by 10,600 tonnes W-o-W to stand at 142,000 tonnes. Foshan and Wuxi were the primary contributors to the drop in stock, while other locations saw little to no movement in their inventory.

This week, the weekly average shipments out of social warehouses in major markets decreased by 3,700 tonnes on a weekly basis, bringing the total to 41,000 tonnes. Most downstream businesses hardly stocked up in preparation for the upcoming Labour Day vacation because they were confident that their raw material supply would be sufficient to maintain output throughout the holiday week.

The figure below provides further information on the current state of aluminium billet inventories in China:

As per the SMM data, the inventory in Nanchang expanded by 200 tonnes to halt at 4000 tonnes from 3,800 tonnes W-o-W. On the same day, the inventories in Foshan and Huzhou plunged by 4,100 tonnes and 4,000 tonnes to close at 88,700 tonnes and 22,000 tonnes.

The aluminium billet inventories in Wuxi and Changzhou slumped by 2,100 tonnes and 600 tonnes to reside at 21,800 tonnes and 5,500 tonnes.