China’s Aluminium billet inventory has been following the downward trend since February 24. As of Thursday, March 24, the inventory has plummeted by 24,400 tonnes or 13.85 percent W-o-W to register at 151,900 tonnes. According to SMM, the market must closely monitor how the current increase in aluminium pricing, as well as COVID reduction initiatives, would affect downstream consumption. With pandemic under control, stockpiles of aluminium billets are projected to decline next week also.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
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In Foshan the inventory has declined by 7,200 tonnes to come in at 76,200 tonnes. A substantial drop has been noticed in Wuxi by 22,700 tonnes to close at 28,300 tonnes. The drop in Wuxi was mostly due to an increase in freight pickup once the pandemic-related transportation issues were resolved.
In Huzhou the inventory has dropped by 8,000 tonnes to score at 15,000 tonnes.
However, on the other hand in Changzhou the inventory has gone up by 900 tonnes to total at 25,300 tonnes, for the same day. In Nanchang also the inventory has shown growth by 1,070 tonnes to record at 7,080 tonnes.
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