Aluminium Inventory Exceeds 1.2 Million mt

SHANGHAI, Feb 13 (SMM) - The aluminium ingot social inventories across China’s eight major markets totalled 1.22 million mt as of February 13, up 28,000 mt from last Thursday and 75,000 mt from February 6. Compared with the same period last year, the inventory increased by 224,000 mt. At present, the social inventory is still in seasonal accumulation cycle, but the growth has slowed down. According to historical data, the accumulation trend post the CNY holidays will last for an average of 3-4 weeks. Lower aluminium prices and production recovery drove downstream buyers to purchase. The inventory accumulation is likely to slow down further.