SHANGHAI, Oct 14 (SMM) - The stocks of aluminium billet in five major consumption areas rose by 7,400 mt to 184,400 mt on October 14 from last Friday October 8, an increase of 4.17%.
Among them, only the inventory in Huzhou fell on the week, with Foshan (up 4,800 mt or 5.07%) and Nanchang (up 3,500 mt or 14.58%) leading the gains in local inventories. The weekly chart of aluminium has been quite volatile, as is the spot market. The downstream market is mostly wait-and-see, and the purchase is largely made on rigid demand.
Looking forward, the orders of downstream extruders have not increased to a satisfying degree though the power rationing has eased to some extent, according to SMM. The orders of large companies have been modest, while the mid and small companies has not seen much increase in the orders. The aluminium billet inventory is mostly likely to increase further next week.