SHANGHAI, Jun. 12 (SMM) – Aluminum ingot stocks in China’s five major markets (Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi) increased for two weeks in a row last week and will continue growing, SMM expects.
Softening consumption in the off-season, combined with increasing new and restarted capacity, will add to market supply, SMM explains.
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Stocks in these five regions totaled 1.21 million tonnes as of June 9, up 15,000 tonnes from June 2, SMM statistics showed.
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