Domestic aluminum billets inventories were largely stable in the week. However, the inventory pressure in east China increased due to the concentrated arrivals in Wuxi in the weekend. According to SMM statistics, the domestic social inventory of aluminium billets on Mar 14 was 258,200 mt, down just 800 mt WoW, and up 200 mt from Mar 4. The outflow of aluminum billet from warehouses in the third week after CNY holiday was 55,900 mt, up 2,300 mt WoW. The aluminum billets processing fees were stable in the three places. As aluminum prices went up, the processing fees moved within a narrow range of 200-300 yuan/mt. Purchasers were cautious about buying.
The total national aluminum billets production in February 2024 (29 days) was 1.162 million mt, down 8.4% MoM; monthly output increased by 85,000 mt, up 7.9% YoY. The operating rate of aluminium billet plants stood at 58% in February, down 5.3% MoM but up 1.1% YoY. Due to CNY holiday, Henan, Gansu, and Qinghai ranked among the top three in terms of MoM production declines, while aluminum billets production in major provinces such as Inner Mongolia, Shandong, Xinjiang, and Yunnan all declined slightly. It is worth noting that in Guangxi and Guizhou, thanks to production resumption and new capacity, the output increased.
![Ускоренное сокращение запасов алюминиевых слитков в пиковый сезон поддерживает цены на алюминий на хорошем уровне в краткосрочной перспективе [SMM: итоги утреннего совещания по алюминию]](https://imgqn.smm.cn/usercenter/zjiqN20251217171650.jpg)
