Aluminium Ingot Inventory Maintains Downward Trend

SHANGHAI, Apr 3 (SMM) –  The aluminium ingot social inventories across China’s eight major markets stood at 1.066 million mt as of April 3, down 22,000 mt from last Thursday, but up 10,000 mt from the same period last year. In March, the inventory of aluminium ingots decreased by 181,000 mt. The inventory maintains a downward trend as expected. Cargo outflows from warehouses in major markets declined 21,200 mt week-on-week to 128,300 mt last week. High aluminium prices cooled down downstream purchases. Smelters raised the share of molten aluminium output, causing ingot output to drop. More ingots were shipped to south China where prices were higher earlier, pushing down stocks in Wuxi.