SHANGHAI, Jul 23 (SMM) – Primary aluminium ingot inventories in China continued to decline moderately this week, showed SMM data.
Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, decreased 6,000 mt from a week ago to 702,000 mt as of Thursday July 23, following a decline of 4,000 mt in the previous week.




![Analysis of Import and Export Data for Unwrought Aluminum Alloy, January-February 2026[SMM Analysis]](https://imgqn.smm.cn/production/admin/votes/imageskkgTu20240508153005.png)

![Inventory fluctuated downward as increased warehouse withdrawals accelerated destocking, and recovering consumption drove processing fees back above parity [SMM Aluminum Billet Weekly Review]](https://imgqn.smm.cn/usercenter/LfGaw20251217171654.jpg)
