Aluminium Billet Inventory Recorded Weekly Decline of 2,300 mt as of May 19

SHANGHAI, May 19 - The domestic aluminium billet inventory stood at 136,400 mt as of May 19, a drop of 2,300 mt or 1.66% from a week ago. The regional inventory changes were as follows: Nanchang (unchanged); Changzhou (+1,400 mt or 8.43%); Wuxi (-1,300 mt or 6.74%); Huzhou (+1,000 mt or 7.69%); Foshan (-3,400 mt or 4.25%). Downstream buyers were more willing to enter the market following the decline in aluminium prices and conversion margins. SMM will keep a close eye on whether consumption will recover further to sustain the recent the destocking process.