SHANGHAI, May 16 (SMM) –Aluminum ingot stocks in China’s five major markets – Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi – stopped growing and fell sharply last week.
As of May 12, total stocks in these five regions were 1.195 million tonnes, down 31,000 tonnes on a weekly basis, SMM statistics showed.
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Smelters in northwest China reduced output of aluminum ingot in favor of aluminum liquid, the main reason behind lower inventories in consumption hubs, SMM explained.
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