Aluminium Ingot Inventory Began to Accumulate Slightly

SHANGHAI, Jul 25 (SMM) - The aluminium ingot social inventories across China’s eight major markets totalled 671,000 mt as of July 25, up 3,000 mt from last Thursday, but 111,000 mt lower than in the same period last year. Shanghai, Wuxi and Nanhai all saw different degrees of inventory accumulation. Trades in the spot market declined slightly after aluminium prices rebounded last week. The weekly shipments out of warehouses in Foshan, Wuxi and Gongyi were in a downward trend.

Arrivals in Wuxi will increase as shipments are now on the way. As such, the total social inventory will still face risks of growing.