Aluminium ingot stocks to accumulate for the rest of July 

SMM data showed aluminium ingot social stocks in China’s eight major markets totalled 554,000 mt as of July 20, down 4,000 mt from July 17, but up 1,000 mt from a week ago. The figure was 114,000 mt less than a year ago, still a five-year low compared to the same period of previous years. The stocks may build up for the rest of July. The decline compared to July 17 was mainly contributed by Wuxi, Foshan and Tianjin. Stocks in Wuxi fell 4,000 mt from July 17 as outflows from local warehouses rose 20-30% on a weekly basis. Overall, arrivals from north-west China fell slightly. Stocks in Gongyi added 3,000 mt from July 17 as local high prices attracted shipments from other regions.