Aluminium Ingot Social Stocks In China’s Eight Major Markets Build Up Slightly

SHANGHAI, Aug 1 (SMM) – SMM data showed aluminium ingot social stocks in China’s eight major markets totalled 541,000 mt as of July 31, up 5,000 mt from last Thursday, but was 137,000 mt less than a year ago, still a five-year low compared to the same period of previous years. Massive cargo arrivals in Wuxi were the major reason for the overall inventory accumulation. Aluminium ingot shipment out of social warehouses in the eight major markets were 128,700 mt last week, up 2,700 mt from a week ago. Entering August, we see aluminium ingot social stocks at risk of growing.