June 4 News:
According to SMM statistics, on June 4, the inventory of aluminum ingots in Guangdong was 206,000 mt; in Wuxi, it was 130,000 mt; and in Gongyi, it was 55,500 mt. The total inventory across these three regions was 391,500 mt, a decrease of 10,500 mt from the previous trading day. After the Dragon Boat Festival holiday, the overall inventory buildup situation in China was manageable, with a particularly notable inventory buildup in the Gongyi region, primarily due to the short-term intensive arrival of shipments caused by customers' concentrated shipments at month-end. The Foshan region maintained a status quo of weak supply and demand for aluminum ingots, with a slight and stable decline observed after the holiday. The Wuxi region experienced a minor inventory buildup during the holiday, but it is understood that the subsequent shipment plans from aluminum smelters remain relatively low, with the expected arrival of shipments to remain at a relatively tight level. SMM expects that the daily inventory of aluminum ingots across these three regions will continue to maintain an overall destocking trend, operating below 400,000 mt.
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