June 17, 2025 SMM Daily Inventory Data Flash Report on Aluminum Ingots in Three Regions [SMM Data]

June 17 News:

According to SMM statistics, on June 17, the aluminum ingot inventory in Guangdong was 166,500 mt; in Wuxi, it was 112,500 mt; and in Gongyi, it was 45,500 mt. The total inventory across these three locations was 334,500 mt, a decrease of 4,500 mt compared to the previous trading day.

By mid-June, the destocking of aluminum ingots in China slowed down significantly this week. Driven by regional price spreads and inter-regional transfers, there was a notable increase in aluminum ingot arrivals in Shanghai, Wuxi (east China), and Gongyi (central China) over the weekend. Meanwhile, inventory in Foshan (south China) dropped sharply. In other regions of China, inventory remained largely stable. SMM believes that in the short term, supported by the overall still low domestic casting ingot production, inventory is expected to continue its destocking trend. However, the recent slight increase in shipments from north-west China and inter-regional transfers due to price spreads have already exerted significant pressure on east China and central China this week, with the arrival increment. Coupled with the expectation of some aluminum smelters increasing casting ingot production, the tight supply situation may be alleviated. Looking ahead, the current high aluminum prices are suppressing the release of downstream restocking demand. In the second half of the month, the overall destocking in China is facing pressure to slow down. Close attention should be paid to whether the annual low of 440,000 mt can be successfully broken before the off-season transitions to an inventory buildup trend, in order to further boost market sentiment.

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