Aluminium Ingot Inventories In China Fall To Alarmingly Low Level

SHANGHAI, Jun 2 (SMM) – The aluminium ingot social inventories across China’s eight major markets stood at 595,000 mt as of June 1, down 62,000 mt from a week ago and 287,000 mt from a year ago. The destocking was led by south China, where cargo arrivals continued to decline and consumption picked up a little. Arrivals in Wuxi fell as much as 20-30%, driving down local stocks rapidly. Limited arrivals and improved consumption allowed stocks in Gongyi to fall after building up in the previous week.

Updated on June 8: Aluminium ingot inventory across China’s eight major markets stood at 553,000 mt as of June 8, down 43,000 mt from a week ago and 300,000 mt from a year ago.