SHANGHAI, Apr 15 (SMM) –Shipments of aluminium billet out of warehouses rose 300 mt on the week to 57,100 mt as downstream demand improved.
SMM data showed that stocks of 6063 aluminium billet across the five major consumption areas – Foshan, Wuxi, Huzhou, Changzhou and Nanchang – in China dropped 15,800 mt from the previous week to 165,200 mt as of Apr 15. Stocks shrank 8,400 mt in Foshan and 4,500 mt in Wuxi. Aluminium prices continued to fluctuate at high levels this week, and downstream users mainly restocked on demand. Shortages of railway containers in north-west China and rising transportation fees in Guangxi led to declines in aluminium billet arrivals.
Aluminium billet social inventories are likely to fall slightly next week.