SHANGHAI Feb 17 (SMM) - The domestic aluminium billet inventory stood at 264,600 mt on February 17, a decrease of 2,900 mt or 1.08% week-on-week, falling for the first time post CNY.
Among them, the inventory in Foshan dropped the most by 8,700 mt or 6.45%, followed by Nanchang where the local inventory fell 6,300 mt or 25.71%. The inventory in Foshan dropped as the arrivals in south China were low amid disputed logistics owing to the COVID pandemic in Guangxi. Meanwhile, the conversion margins rallied, resulting in more purchases amid worries over possible tight supplies in the near future. The warehouses in Nanchang also indicated less arrivals, and the shipments leaving the warehouses were also sluggish. The shipments in other markets were also less satisfactory as the downstream has not fully resumed the production.
