Aluminium billet inventories dipped 600 mt on week

SHANGHAI, Dec 24 (SMM) –SMM data showed that stocks of 6063 aluminium billet across the five major consumption areas – Foshan, Wuxi, Huzhou, Changzhou and Nanchang – in China shrank 600 mt from the prior week to 72,400 mt as of December 24. Stocks declined in Wuxi and Nanchang, and Nanchang saw the largest fall of 3,200 mt, as downstream users became more willing to purchase as aluminium prices moved lower. Inventories built up in Foshan and Changzhou, while unchanged in Huzhou.