Aluminium billet inventory in China on May 26 has dropped by 6,300 tonnes or 4.61 percent W-o-W to total at 130,100 tonnes. In provinces like Foshan, Nanchang and Changzhou the inventory has fallen the highest. SMM will keep a close eye on whether demand recovers and whether the destocking trend continues despite the present high aluminium prices.
The figure below provides further information on the current state of aluminium billet inventories in China:
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In Foshan the inventory has slumped by 2,000 tonnes to score at 74,600 tonnes, followed by a hike of 400 tonnes in Wuxi to peg at 18,400 tonnes. The inventory in Changzhou has also plunged by 1,700 tonnes to come in at 16,300 tonnes.
Changzhou and Nanchang downstream producers replenished as required and arrival in Foshan have been high, while consumption has been low.
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In Huzhou the inventory has remained restrained at 14,000 tonnes and in Nanchang the inventory has fallen by 3,000 tonnes to total at 6,800 tonnes.
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