Aluminium billet inventories dropped 3,500 mt on week

SHANGHAI, June 24 (SMM) - The outbound volume of the aluminium billet dropped by 6,800 mt to 38,300 mt last week, a decrease of 15%. 
Aluminium prices were mainly affected by the policies, macroeconomics, and fundamentals. Downstream purchase was low amid strong wait-and-see sentiment. The stocks of aluminium billet in five major consumption areas fell by 3,500 mt to 97,300 mt from the previous week, a slight decrease of 3%.

The inventories in Fushan and Changzhou increased by 1,900 mt and 400 mt respectively, while that in Wuxi, Huzhou, and Nanchang all fell about 2,000 mt. According to SMM survey, aluminium downstream orders declined, and the downstream companies were less willing to purchase after the release of national reserves was announced. The outbound volume of aluminium billet is expected to drop next week, and the inventories may increase.