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Aluminium billet inventories rose 12,600 mt on week

iconJul 8, 2021 15:35
Source:SMM
SMM data showed that aluminium billet stocks across the five major consumption areas — Foshan, Wuxi, Huzhou, Changzhou and Nanchang — in China increased 11% or 12,600 mt from a week ago to 123,800 mt as of Thursday July 8.

SHANGHAI, Jul 8 (SMM) – The outbound quantity of aluminium billet decreased 3,600 mt or 7% to 47,500 mt last week. The downstream was less willingness to restock under the fluctuation of aluminium prices and weak consumption.

SMM data showed that aluminium billet stocks across the five major consumption areas — Foshan, Wuxi, Huzhou, Changzhou and Nanchang — in China increased 11% or 12,600 mt from a week ago to 123,800 mt as of Thursday July 8. Stocks in Foshan, Wuxi, Changzhou and Nanchang all rose. Among whem, Wuxi area increased the most, with inventories increasing by 5,600 mt or 44%. The overall market trading atmosphere was moderate this week, and the downstream wait-and-see sentiment was aggravated. In addition, due to the impact of reserving, the overall market turnover was moderate.

SMM survey showed that the orders of downstream aluminium extrusion enterprises still showed signs of weakening. With the arrival of the traditional off-season, the consumption demand momentum of aluminium billet is insufficient. It is expected that outbound quantity of aluminium billet will decrease next week and it is more likely that aluminum billet inventories will continue to pile up.


Aluminium billet
Inventory data

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