Aluminium billet inventories fell for 7th week amid high demand

SHANGHAI, Apr 23 (SMM) – Inventories of aluminium billet in China fell for the seventh consecutive week as of April 23 as consumption was brisk in Guangdong and Shanghai.

SMM data showed that stocks of 6063 aluminium billet across five major consumption areas in China declined 19,300 mt in the week ended April 23 to 145,600 mt. This followed a decline of 5,200 mt in the previous week.

Inventories in Foshan and Wuxi shrank significantly this week, with the stocks in Nanchang, Changzhou and Huzhou little changed.