Aluminum Billet Stocks In China Begin To Grow, Failing To Sustain Previous Downward Trend

Downstream extrusion operating rates have been weakening recently. Bearish sentiment has lessened downstream goods acceptance, causing poor outflow in the aluminum billet market and raising billet inventory to over 100,000 mt this week. As of November 23, 2023, SMM statistics show domestic aluminum billet inventories at 102,900 mt, up 2,500 mt from Monday, 5,400 mt WoW, and 39,900 mt YoY. This returns it to recent three-year highs for this period. SMM predicts substantial year-end aluminum billet inventory pressure.