On Thursday, August 25, China’s aluminium billet inventories increased by 3,900 tonnes W-o-W across four major consumption areas to settle at 120,200 tonnes. Except in Foshan, where the inventory dropped after the period of centralised shipments ended. Overall, the power restriction in Sichuan province, where the billet factors have been shut down, impacted the supply of aluminium liquid. With an eye on the development of power restrictions in other locations, it is anticipated that the supply of aluminium billet would decrease.
The figure below provides further information on the current state of aluminium billet inventories in China:
As per the data, the inventory in Huzhou ascended by 2,000 tonnes or 11.76 per cent, to rest at 19,000 tonnes from 17,000 tonnes recorded a week ago. The inventory in Wuxi soared up by 4,600 tonnes or 32.39 per cent, to settle at 18,800 tonnes from 14,200 tonnes recorded last week.
Due to heavy arrivals and weak demand, inventory increased in Wuxi, while it continued to climb in Changzhou, Huzhou, and Nanchang due to slow business activity.
On the same day, the inventory in Changzhou the inventory expanded by 700 tonnes or 10.76 per cent to record 7,200 tonnes from 6,500 tonnes recorded last week. In Nanchang, the inventory hiked by 700 tonnes or 21.87 per cent, to close at 3,900 tonnes from 3,200 tonnes. Only in Foshan, the inventory dropped by 4,100 tonnes to peg at 71,300 tonnes.
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