China’s billet inventories drop consistently W-o-W to close at 225,000 tonnes on March 10
On Thursday, March 10, China’s aluminium billet inventories crash-dived by 16,500 tonnes or 6.83% a week-on-week, as aluminium prices went down for the third day, found the Shanghai Metals Market. As a result, the inventories registered at 225,000 tonnes.
However, conversion margins on aluminium billets continued to rise, drawing attention from the downstream purchasers. Some of the world's largest aluminium extruders have resumed production, which, together with price adjustments in the metal, might hasten the depletion of aluminium billet stockpile.
The chart below indicates the current status of aluminium billet inventories across China in more detail:
In Foshan, the aluminium inventories dropped by 14,100 tonnes to total at 103,900 tonnes. For the same day in Wuxi and Huzhou, the inventories slumped by 2,000 tonnes to come in at 59,000 tonnes and 27,000 tonnes. In Nanchang also the inventories witnessed a drop of 550 tonnes to settle at 10,400 tonnes.
Only in Changzhou, the inventories moved up by 2,200 tonnes to total at 24,700 tonnes.
Given the current surge in the price of aluminium, it's unknown how much and for how long the stockpile of aluminium billets will shrink.
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