On Thursday, July 21, the aluminium billet inventories in China dropped by 3,100 tonnes W-o-W to close at 95,400 tonnes, from 98,500 tonnes a week ago. Except for Foshan and Huzhou, all major markets saw a decrease in inventories, partially attributable to fewer exports from smelters in northwest China. However, declining aluminium prices also sparked upstream restocking demand. The stockpile of aluminium billets is anticipated to continue decreasing in the next week.
The figure below provides further information on the current state of aluminium billet inventories in China:
The aluminium billet inventory in Wuxi witnessed the highest drop by 2,200 tonnes to settle at 18,400 tonnes, from 20,600 tonnes recorded last week, followed by in Changzhou, where the inventory had slumped by 600 tonnes to halt at 5,300 tonnes, as of Thursday, July 21.
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As per the SMM data in Nanchang, the inventory had decreased by 300 to 2,500 tonnes, from 2,800 tonnes recorded a week ago. However, the stocks in Huzhou and Foshan remained restrained to close at 16,000 tonnes and 53,200 tonnes, respectively.
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