SMM weekly updates on China aluminium billet inventory

SHANGHAI, Aug 18 (SMM) – Aluminium billet inventory has been largely stable for a month. The strategy of lowering prices to increase sales is working again. With the peak season approaching, downstream stockpiling has improved slightly. In the week ending August 17, aluminium billet pick-ups by buyers increased slightly, coupled with low arrivals, the supply-demand balance improved a bit. On August 17, 2023, SMM reported China's aluminium billet inventory at 74,000 mt, down 900 mt WoW, marking a three-year low. Inventory reductions are primarily from Foshan and Wuxi, with minor changes in Changzhou and Huzhou, but Nanchang has seen a small increase.