Aluminium Billet Inventories Fell 6,200 mt on Week

SHANGHAI, Aug 26 (SMM) - SMM data showed that China’s social inventories of aluminium billet across five major consumption areas fell 6,200 mt on the week to 124,400 mt as of August 26, mainly due to the decline in Foshan, Wuxi and Nanchang.

Downstream producers properly restocked cargoes due to high aluminium prices and bearish orders, thus, the demand for aluminium billet declined. Aluminium billet inventories are expected to be muted next week as the arrivals of goods were not high.