SHANGHAI, Jul. 4 (SMM) – Aluminum ingot stocks in China’s five major markets (Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi) returned to growth last week after falling for two weeks in a row.
Total stocks in these five regions increased 10,000 tonnes week-on-week to 1.2 million tonnes as of June 30, SMM statistics showed.
SMM attributes the increase to softening downstream consumption.
SMM sees further increase in aluminum stocks in July, citing growing supply and weakening demand.
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