According to the Shanghai Metals Market data, 6063 aluminium billet inventories across China's five major consumption areas are recorded at 80,000 tonnes as of Monday, September 4, experiencing an increase of 10,400 tonnes or 14.94 per cent over the weekend. On a week-on-week basis, the inventories rose by 9,600 tonnes or 13.64 per cent from 70,400 tonnes.
The above data also indicates that China's aluminium billet inventories reflected an interim drop of 1.14 per cent on Thursday compared to 70,400 tonnes on Monday, August 28.
{alcircleadd}This Monday, Foshan contributed the highest to China's aluminium billet inventory growth, followed by Huzhou. To know in more detail, refer to the table below:
In Foshan, aluminium billet inventories registered a hike of 6,700 tonnes over the weekend and 5,800 tonnes week-on-week to reach 47,800 tonnes, found the Shanghai Metals Market data. In Huzhou, the inventories gained 2,000 tonnes from Thursday and 1,000 tonnes from Monday to come in at 10,000 tonnes as of September 4.
In Wuxi and Changzhou, aluminium billet inventories grew by 1,200 tonnes and 500 tonnes over the weekend, amounting to 9,700 tonnes and 4,500 tonnes, respectively. On a week-on-week basis, the billet stocks in those two provinces inched up by 800 tonnes and remained muted, respectively, showed SMM.
In Nanchang, aluminium billet stocks increased by 1,500 tonnes on a week-on-week basis to stand at 8,000 tonnes, which, however, was muted compared to Thursday, August 31.
Source: SMM
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