SHANGHAI, Jun 10 (SMM) – The outbound volume of the aluminium billet dropped slightly by 4,600 mt to 44,300 mt last week, a decrease of 9.4%. Downstream users were less willing to receive goods recently.
SMM data showed the stocks of aluminium billet in five major consumption areas fell by 11,100 mt to 88,400 mt from the previous week, a decrease of 1.2%. Foshan and Wuxi saw the decline in inventories, while the stocks increased in Nanchang. Aluminium prices remained fluctuating at high levels this week, and downstream users were less willing to purchase.
The raw material demand of aluminium extrusion companies dropped amid the lower operating rates. According to the downstream operating rates in May surveyed by SMM, domestic aluminium consumption weakened on the year, and high prices were transmitted slowly. The national inventories of aluminium billet is expected to increase slightly next week.