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.
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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