Aluminium billet inventory fell back on a weekly basis, but still rose from pre-holiday level

After substantial growth during the National Day holiday, aluminium billet inventory has seen a slight decline from the past three months' high levels. As of October 19, 2023, SMM reports domestic inventory at 107,200 mt, down 3,000 from October 16 down 5,600 mt since October 12. However, this is an increase of 37,600 mt from pre-holiday levels and 35,300 mt from the same post-holiday period last year, close to a three-year high. During the week, inventories in Foshan, Wuxi, Huzhou, and Nanchang slightly declined, with only Changzhou seeing a slight increase, easing post-holiday inventory pressure. This decrease is due to post-holiday restocking by extrusion companies, though consumption is still limited. Downstream extrusion demand needs further improvement post-holiday.