SHANGHAI, Feb 6 (SMM) - The aluminium ingot social inventories across China’s eight major markets totalled 1.14 million mt as of January 6, up 96,000 mt from last Thursday and 158,000 mt from January 30. The figure also increased by 278,000 mt compared with the same period last year.
At present, the social inventory is still in seasonal accumulation cycle. According to historical data, the accumulation trend post the CNY holiday will last for an average of 3-4 weeks. And there are still enormous cargoes in transit. However, considering that downstream producers have begun to resume their production, the inventory growth should slow down in the future.
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