Aluminium billet inventories dipped 0.3% on week

SHANGHAI, May 27 (SMM) –Shipments of aluminium billet out of warehouses fell 13,700 mt or 20.8% on the week to 52,100 mt last week. 

SMM data showed that stocks of 6063 aluminium billet across the five major consumption areas – Foshan, Wuxi, Huzhou, Changzhou and Nanchang – in China dropped 200 mt from the previous week to 88,300 mt as of May 27. Stocks declined in Wuxi and Changzhou, but built up in other areas. Downstream processors in South China took the mode of “four days on duty, three days off” due to power consumption restrictions, which lowered their demand for raw materials. 

Aluminium billet inventories are likely to rise slightly next week as the state is likely to take measures to regulate and control commodities prices.