Aluminium Billet Market Maintains Destocking

SHANGHAI, Feb 16 (SMM) – The domestic aluminium billet social inventory stood at 202,300 mt as of February 16, down 12,100 mt compared with a week ago. This marked two consecutive weeks of decline after ending the upward trend earlier. Massive cargo outflows from warehouses drove inventories across each of the five major markets to fall.  Aluminium billet production has basically returned to normal levels, and enormous amounts of billets flooded into east China market, leading to chaotic quotations. The demand for aluminium billets picked up, especially driven by construction aluminium extruders, whose orders have recovered significantly. It is expected that the inventories will maintain a slight drop next week.