June 3 News:
According to SMM statistics, as of June 3, the inventory of electrolytic aluminum ingots in major domestic consumption areas stood at 519,000 mt, an increase of 8,000 mt from last Thursday. After the Dragon Boat Festival holiday, the overall inventory buildup situation in China remained manageable, with the inventory buildup in the Gongyi area being particularly pronounced, mainly due to the short-term intensive arrivals caused by customers' concentrated shipments at month-end. In the Foshan area, the current situation of weak supply and demand for aluminum ingots persisted, with a slight decline maintained after the holiday. In the Wuxi area, there was a slight inventory buildup during the holiday, but it is understood that the subsequent shipment plans from aluminum smelters remain relatively low, and the subsequent arrivals are expected to remain at a relatively tight level.
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