Aluminium billet inventories up 14,000 mt on week

Published: Jul 1, 2021 17:11
The outbound volume of the aluminium billet rose by 12,800 mt to 51,100 mt last week, an increase of 33.5%. The transportation was severely restricted in some regions with the approaching of the 100th anniversary of the founding of CPC last week, and the downstream willingness to restock slightly recovered.

SHANGHAI, Jul 1 (SMM) - The outbound volume of the aluminium billet rose by 12,800 mt to 51,100 mt last week, an increase of 33.5%. The transportation was severely restricted in some regions with the approaching of the 100th anniversary of the founding of CPC last week, and the downstream willingness to restock slightly recovered. 
The stocks of aluminium billet in five major consumption increased by 1,400 mt to 111,200 mt from the previous week, an increase of 14.35%. Foshan saw the largest increase volume by 4,200 mt, and Huzhou registered the highest growth rate by 37.5%. Aluminium prices fluctuated widely under the impact of policies, macroeconomics, and fundamentals. The overall market trade was flat amid the strong downstream wait-and-see sentiment. 
According to SMM survey, aluminium downstream orders will decline in July. The first batch of national reserve will be released next Monday and Tuesday, which will lead to the looser liquidity in the spot market, and the holders may had difficulties in sales. The outbound volume of aluminium billet is expected to drop next week, and the inventories may increase.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Domestic Secondary Aluminum Alloy Ingot Inventory Down by 364 mt, Foshan Sees Major Destocking
2 hours ago
Domestic Secondary Aluminum Alloy Ingot Inventory Down by 364 mt, Foshan Sees Major Destocking
Read More
Domestic Secondary Aluminum Alloy Ingot Inventory Down by 364 mt, Foshan Sees Major Destocking
Domestic Secondary Aluminum Alloy Ingot Inventory Down by 364 mt, Foshan Sees Major Destocking
[SMM News Flash] Inventory of secondary aluminum alloy ingots in major domestic consumption areas decreased by 364 mt MoM from the previous day, with destocking mainly concentrated in the Foshan area.
2 hours ago
New Locomotives Boost Guinea's TransGuinean Rail for Iron Ore, Bauxite Transport
2 hours ago
New Locomotives Boost Guinea's TransGuinean Rail for Iron Ore, Bauxite Transport
Read More
New Locomotives Boost Guinea's TransGuinean Rail for Iron Ore, Bauxite Transport
New Locomotives Boost Guinea's TransGuinean Rail for Iron Ore, Bauxite Transport
[SMM Aluminum Express News] Four new locomotives, Foussein, Lanny-Ninkin, Kaporo, and Gbereakhory have entered service on Guinea's TransGuinean corridor rail line, managed by La Compagnie du TransGuinéen (CTG). Primarily built to haul high-grade iron ore from Simandou mine to Morebaya port (650 km), these Wabtec units (part of a 78-locomotive fleet) support heavy loads for faster, reliable shipments. The corridor's high-capacity infrastructure (12 stations, 206 bridges, rugged terrain adaptations) also enables transport of bauxite and other minerals, creating a multi-commodity logistics backbone that could shorten transit for landlocked neighbors (e.g., Mali) and boost regional mineral exports.
2 hours ago
Aluminum Scrap Prices Follow Upward Trend but with Regional Divergence Market Supply Increases [SMM Cast Aluminum Alloy Morning Comment]
2 hours ago
Aluminum Scrap Prices Follow Upward Trend but with Regional Divergence Market Supply Increases [SMM Cast Aluminum Alloy Morning Comment]
Read More
Aluminum Scrap Prices Follow Upward Trend but with Regional Divergence Market Supply Increases [SMM Cast Aluminum Alloy Morning Comment]
Aluminum Scrap Prices Follow Upward Trend but with Regional Divergence Market Supply Increases [SMM Cast Aluminum Alloy Morning Comment]
[smm cast aluminum alloy morning comment: aluminum scrap prices rise but with regional divergence market supply increases] overnight, the 2604 contract for aluminum alloy opened higher and retreated after a rapid rise. it touched a high of 23,305 yuan/mt at the opening and then fluctuated downward, reaching a low of 22,940 yuan/mt, before rebounding slightly towards the close. it finally closed at 230,450 yuan/mt, down 135 yuan/mt from the previous close, a decline of 0.58%. the futures showed a move downwards after a higher opening, indicating a weakening of short-term bullish momentum. trading volume remained low, and open interest decreased slightly, suggesting a cautious approach to trading.
2 hours ago
Aluminium billet inventories up 14,000 mt on week - Shanghai Metals Market (SMM)