According to the Shanghai Metals Market, aluminium billet inventories in China have declined this week after three consecutive weeks of growth from August 5 to 19. SMM data shows inventories have decreased by 6,200 tonnes across five major consumption areas to come in at 124,400 tonnes as of Thursday, August 26.
Last week, on August 19, aluminium billet inventories stood at 130,630 tonnes, gaining 13,100 tonnes from the previous week as orders were down on low buying interest.
{alcircleadd}SMM expects the inventories to be muted in the upcoming week as the arrivals of goods were not high this week.
The chart below indicates the current status of aluminium billet inventories across China in more details:
In Foshan, aluminium billet inventories have plunged by 7,600 tonnes to peg at 56,900 tonnes on August 26, followed by the decrease of 2,350 tonnes in Nanchang to 18,000 tonnes. In Wuxi, the inventories slipped slightly by 190 tonnes to settle at 22,290 tonnes.
Meanwhile, in Huzhou and Changzhou, aluminium billet inventories have increased by 2,000 tonnes and 1,900 tonnes, respectively, to stand at 13,000 tonnes and 14,200 tonnes, found SMM.
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