SHANGHAI, May 19 (SMM) - The aluminium ingot social inventories across China’s eight major markets totalled 965,000 mt as of May 19, down 38,000 mt from a week ago and 22,000 mt from the end of April. Low arrivals were the main reason for the decline. The decline was still led by Wuxi and Gongyi. The inventory in Wuxi fell 30,000 mt due to a sharp drop in arrivals and normal cargo pick-up. Fewer arrivals also led to a decline in the inventory in Gongyi. Sellers in Gongyi held back cargoes, even as the local spot premium rose. The inventory in Foshan rose slightly amid normal arrivals and modest shipments out of warehouses. Inventories in Hangzhou, Shanghai, Chongqing and other regions were basically stable.
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