SHANGHAI, Jul. 31 (SMM) – Aluminum ingot stocks in China’s five major markets rose for five weeks in a row to hit a new record high last week, SMM statistics showed.
As of July 28, aluminum ingot stocks in Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi, reached 1.28 million tonnes.
The off-season and high prices dampened downstream buying interest, the main reason behind inventory growth, SMM explained.
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