SMM

SHANGHAI, May 19 (SMM) - The domestic aluminium billet social inventory stood at 162,000 mt as of May 18, down 6,600 mt from a week ago. Downstream purchases picked up after aluminium prices rebounded. Billet conversion margins were lowered amid rising aluminium prices, and market transactions improved noticeably. Billet production remains high amid growing molten aluminium supply, and downstream industry is entering the off-season, putting social inventory at risks of growing further.  The current inventory is significantly higher than in the same period of previous years. The inventory is expected to hover around the current level next week.