China’s aluminium billet inventory had fallen by 9.88 per cent W-o-W to settle at RMB 105,900 tonnes as of Thursday, April 28. The epidemic hampered transportation and downstream purchases in east China. Overall due to downstream restocking, social inventories are likely to fall more after the vacation.
More information on the present situation of aluminium billet inventory in China may be found in the chart below:
In Foshan, the inventory had plunged by RMB 1000 tonnes to settle at RMB 45,500 tonnes. For the same day in Wuxi, the price had plunged by RMB 10,520 tonnes to peg at RMB 27,780 per tonne.
Wuxi's transportation efficiency improved somewhat, and downstream manufacturers replenished as needed in preparation for the approaching Labour Day vacation. In Foshan, downstream consumption was slow, leading local inventories to decline more slowly.
In Changzhou, the price closed at RMB 11,900 tonnes, after witnessing a decline of RMB 700 per tonne, on the same day. For the same day in Nanchang, the price had slipped by RMB 2,980 per tonne to stop at RMB 6,720 per tonne. In Huzhou, the price had stood the same at RMB 14,000 per tonne.
source https://www.alcircle.com/news/chinas-aluminium-billet-inventory-plunges-by-9-88-w-o-w-to-rmb105-900-tonnes-79286
Comments
Post a Comment