SHANGHAI, Jan 20 (SMM) - The stocks of aluminium billet in five major consumption areas added 36,500 mt to 176,900 mt on January 20 from a week ago, a significant increase of 25.95%. The inventory has been rising for four straight weeks.
All the other four market recorded gains in inventory except Huazhou. The inventory in Foshan and Wuxi contributed most of the increase, which rose by 21,500 mt and 13,200 mt respectively, up 29.53% and 54.77% on a weekly basis. The downstream orders weakened further this week, resulting in sluggish demand for aluminium billet.
Looking into next week, it expected that the downstream consumption will remain week, hence the weekly aluminium billet inventory will keep rising.