China Aluminium Ingot Inventories Have Fallen Below 1 Million mt as of April 13, 2023

SHANGHAI, Apr 13 (SMM) - The aluminium ingot social inventories across China’s eight major markets totalled 966,000 mt as of April 13, down 72,000 mt from a week ago and 40,000 mt from April 3. The figure was also 97,000 mt below the same period last year. So far this month, the inventory has dropped by 121,000 mt. The current inventory is at the lowest level when compared to the same period of the past five years. The low inventory of aluminium ingots is partly associated with growing proportion of molten aluminium in smelters’ total output. Therefore, how the share of molten aluminium and aluminium ingot output will change deserves close attention. In view of falling cargo arrivals, aluminium ingot stocks are expected to drop further.