China’s billet inventories plummet by 8.84% W-o-W to 190,000t due to on-demand downstream buyers

On Thursday, March 17, China’s aluminium billet inventory has nosedived by 18,400 tonnes or 8.84 percent week-on-week, as the stockpile of aluminium billets continued to fall due to on-demand downstream purchase. As a result, the inventory has been registered at 190,000 tonnes.

Due to fewer arrivals, inventory in Foshan had declined rapidly in the last week. Looking ahead to the next week the market will keep a careful eye on the logistics that may have been or will be impacted by the pandemic control, which might impede the drop in aluminium billet inventories.

The chart below indicates the current status of aluminium billet inventories across China in more detail:

In Foshan and Wuxi the inventory has decreased by 20,500 tonnes and 8,000 tonnes to peg at 83,400 tonnes and 51,000 tonnes. In Changzhou the inventory has dropped by 300 tonnes to total at 24,400 tonnes, found the Shanghai Metals Market.

In Huzhou the inventory has slumped by 4,000 tonnes to record at 23,000 tonnes. In Nanchang also the inventory has dipped by 2,250 tonnes to total at 8,150 tonnes.