Aluminium Billet Stocks Extend Decline

SHANGHAI, Mar 30 (SMM) - The domestic aluminium billet social inventory dipped 9,600 mt from a week ago to 158,400 mt as of March 30. Some warehouses in east China have suspended taking in aluminium billets. Moreover, enormous amounts of billets were shipped directly to downstream processing plants, instead of social warehouses, also contributing to lower stocks.  Some billet plants cut output, tightening supply in the market. The operating rates of construction aluminium extruders have picked up in the peak season. In this context, SMM expects aluminium billet stocks to extend the decline. Market players should pay attention to the commissioning of new capacity in south-west China.