Chinese aluminium billet inventories expand week-on-week decline to stand at 65,000 tonnes
Aluminium billet inventories in China have continued to shrink over the week ending on Thursday, July 16, marking the second consecutive week-on-week fall, found Shanghai Metals Market. According to SMM, aluminium billet inventories today have declined due to high deliveries amid limited arrivals of stocks.
The inventories of 6063 aluminium billets have decreased by 7,300 tonnes from the week earlier to stand at 65,000 tonnes. Week-on-week, the decline has expanded by 6,300 tonnes from the earlier drop of 900 tonnes on July 6 to come in at 72,300 tonnes.
The chart below indicates the current status of aluminium billet inventories across China in more details:
In Foshan, the aluminium billet inventories have declined by 4,100 tonnes to stand at 20,600 tonnes, while that in Wuxi and Nanchang have plunged by 2,350 tonnes and 2,170 tonnes from the week earlier to come in at 13,750 tonnes and 6,750 tonnes, respectively.
In Changzhou, however, the inventories have increased by 1,380 tonnes to peg at 11,940 tonnes and that in Huzhou have remained restrained at 12,000 tonnes, showed Shanghai Metals Market data.
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