Billet inventories up 27,300 tonnes from last week
On January 13, the inventory of aluminum billets in the five major consumption areas increased by 27,300 tons to 140,500 tons from a week ago, a substantial increase of 24.07%.
SHANGHAI, Jan. 13 (SMM) -- On Jan. 13, aluminum billet inventories in the five major consuming regions increased by 27,300 tons to 140,500 tons from a week earlier, a sharp increase of 24.07%. Inventories rose more slowly than the previous session, but still recorded a substantial increase.
Except for Huzhou, inventories in major producing areas generally rose. Foshan's inventory increased by 20,300 tons or 38.67% month-on-month, followed by Wuxi, where local inventories increased by 6,400 tons or 36.16%. The warehouse said that the arrival of aluminum billets was concentrated, while the outflow from the warehouse dropped sharply due to the sluggish downstream orders before the Spring Festival.
Looking ahead to next week, weekly aluminum billet inventories are likely to continue to rise amid weak downstream demand.