SHANGHAI, Jun. 27 (SMM) – Aluminum ingot stocks in China’s five major markets (Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi) fell at a faster pace last week, despite the ongoing off-season.
Aluminum extrusion and alloy producers in Guangdong reduced aluminum scrap use in favor of aluminum ingot and billet against environmental protection checks, allowing local aluminum ingot stocks to fall sharply. This dragged down total stocks in domestic five major markets, SMM explained.
Stocks in these five regions totaled 1.19 million tonnes as of June 23, down 17,000 tonnes from June 16, SMM statistics showed.
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