According to the Shanghai Metals Market, China’s social inventories of aluminium billet stands at 107,200 tonnes as of Thursday, October 19, reflecting a week-on-week fall of 5,600 tonnes from 112,800 tonnes. From Monday, October 16, inventories fell by 3,000 tonnes from 110,200 tonnes.
The fall in inventories this week could be attributed to higher consumption and slower arrivals of stocks to warehouses. To know the current status of aluminium billet inventories across China, refer to the chart below:
As the above chart indicates, aluminium billet inventories in Foshan and Huzhou have experienced a fall of 2,000 tonnes to stand at 47,700 tonnes and 22,000 tonnes, respectively, on October 19. In Wuxi and Nanchang, inventories have dropped by 1,300 tonnes and 1,000 tonnes, respectively, to peg at 19,300 tonnes and 6,500 tonnes, found SMM.
Changzhou is the only Chinese province that has seen a gain of 700 tonnes in aluminium billet inventories to stand at 11,700 tonnes compared to 11,000 tonnes a week ago.
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