Downstream purchases, limited arrivals lower aluminium billet inventories

SHANGHAI, Nov 15 (SMM) – Stocks of 6063 aluminium billet across five major consumption areas in China decreased by some 11,700 mt over the week ended Thursday November 15 to stand at 118,100 mt, SMM data showed.

Downstream consumers made large purchases as prices dipped and limited cargoes arrived at the warehouses. This accounted for the week-on-week decline in aluminium billet stocks.

Details:

Foshan, Guangdong –64,800 mt

Wuxi, Jiangsu – 17,000 mt

Changzhou, Jiangsu – 18,000 mt

Huzhou, Zhejiang – 7,000 mt

Nanchang, Jiangxi – 11,300 mt