China’s aluminium billet inventories shrink 15.8% to stand below 100,000 tonnes this week: SMM
Shanghai Metals Market data showed that aluminium billet inventories decreased by 16,600 tonnes or 15.8 per cent week-on-week across the five major consumption areas in China. That brought the inventories to 88,600 tonnes on May 20, compared to 105,200 tonnes on May 13.
The fall in aluminium billet inventories this week could be attributed to active consumption on the occasion of domestic aluminium price plunge.
The chart below indicates the current status of aluminium billet inventories across China this week in more details:
In Foshan and Wuxi, aluminium billet inventories declined by 7,600 tonnes and 7,231 tonnes, respectively, to come in at 43,400 tonnes and 19,568 tonnes. In Huzhou, inventories dipped by 1,000 tonnes and in Nanchang by 900 tonnes to settle at 7,000 tonnes and 9,800 tonnes.
Meanwhile, in Changzhou, aluminium billet inventories remained flat at 8,800 tonnes on May 20 compared to 8,700 tonnes last week, found SMM.
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