SMM Weekly Updates On China Aluminium Billet Stocks As Of August 24

SHANGHAI, Aug 24 (SMM) – Aluminium billet: Aluminium billet stocks continue at a low with moderate demand as the busy season nears. Cargo pick-up did not see noticeable increase in the week ending August 24 and have been in a downward trend for over a month. Cargo arrivals did not accelerate. As of August 24, 2023, SMM reports domestic aluminium billet inventory at 73,900 mt, down 4,200 mt from August 21, and 100 mt from August 17, keeping at a three-year same-period low. The decline is mainly due to reduced arrivals. Aside from Nanchang, all major consumption areas saw slight decline in stocks.