Aluminium billet inventories fell 12,800 mt on week

SHANGHAI, Apr 8 (SMM) – The outbound quantity of aluminium billet decreased 9,200 mt to 56,800 mt last week. High aluminium prices were gradually transmitted to the downstream while TCs rebounded, and the overall shipment situation in the market was not as good as before.
SMM data showed that aluminium billet stocks across the five major consumption areas — Foshan, Wuxi, Huzhou, Changzhou and Nanchang — in China decreased 6.6% or 12,800 mt from a week ago to 181,000 mt as of Thursday April 8. Aluminium prices kept fluctuating at high this week, and the downstream demand improved, while it was still mainly on restocking for rigid demand at low prices. Inventories in Wuxi and Foshan fell relatively sharply by 4,100 mt and 7,100 mt respectively.
Aluminium contracts kept fluctuating and the downstream demand was strong, while the downstream was unwilling to restock and kept raw material inventories low. It is expected that aluminium billet inventories will also decrease slightly next week compared with this week.