Aluminium billet inventories added 2,700 mt over holiday

SHANGHAI, May 7 (SMM) – Inventories of aluminium billet in China increased during the Labour Day holidays, putting a halt to the previous eight consecutive weeks of decline, as inventories in Foshan, Guangdong province rose a significant 5,200 mt.

SMM data showed that stocks of 6063 aluminium billet across five major consumption areas in China expanded 2,700 mt from Thursday April 30 to 132,100 mt as of May 6. The stocks shrank 16,300 mt in the week ended April 30.

Inventories in Foshan rose the most during the holiday, with stocks in Huzhou and Nanchang also elevated. Meanwhile, stocks in Wuxi and Changzhou edged lower.