SMM Weekly Updates On China Aluminium Ingot Social Inventories As Of May 18

SHANGHAI, May 19 (SMM) - The aluminium ingot social inventories across China’s eight major markets stood at 706,000 mt as of May 18, down 81,000 mt from a week ago and 259,000 mt from the same period last year.  The inventories maintain a downward trend and remain at a low level. Judging from cargoes in transit and share of ingot output at smelters, the social inventory is on track to fall below 700,000 mt soon. However, aluminium ingot inventory will present less significance for reference as the proportion of non-ingot output at smelters is on the rise. Downstream demand was relatively poor.

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