SHANGHAI, Dec 30 (SMM) - The stocks of aluminium billet in five major consumption areas added 5,700 mt to 80,300 mt on December 30 from a week ago, an increase of 7.64%.
The inventories across four major markets rose on the week except for Nanchang. Among them, the inventory in Huzhou rose 3,000 mt or 27.27% from last Thursday, and that in Foshan added 2,900 mt or 8.31%, both of which contributed most of the weekly gains. The aluminium billet market was subdued by the year-end as most companies were busy with managing cash flows and reduced the orders taken, resulting in a quiet market.
Looking into next week, the downstream market was sluggish in demand, coupled with the upcoming New Year’s Day holiday. It is expected that the weekly inventory of aluminium billet will continue to rise.
