SHANGHAI, May 13 (SMM) –Shipments of aluminium billet out of warehouses fell 29,700 mt or 44% from the prior week to 37,000 mt as the Labour Day holiday shortened the number of trading days.
SMM data showed that stocks of 6063 aluminium billet across the five major consumption areas – Foshan, Wuxi, Huzhou, Changzhou and Nanchang – in China dropped 33,900 mt from the previous week to 105,200 mt as of May 13. Stocks shrank by 56% in Huzhou and dropped 12,000 mt in Foshan. Trades were active this week as falling aluminium prices encouraged downstream users to restock cargoes.
Aluminium billet inventories are expected to continue to fall next week most of the large-scale aluminium extrusion plants operated at full capacity to fulfill orders.
