China Aluminium Ingot Inventory On The Brink Of Falling Below 500,000 Mt

Aluminium ingot: Aluminium ingot inventory across China’s eight major markets stood at 520,000 mt as of June 15, down 33,000 mt from a week ago and 265,000 mt from a year ago. SHFE aluminium prices saw three-day rally after sharp drop on Monday. Downstream buyers still restocked as needed. Aluminium ingot shipments out of social warehouses are expected to grow slightly this week. Arrivals in east and south China fell back after growth over the weekend. Stocks in south China fell below 100,000 mt due to limited arrivals and improved buying before upcoming delivery of futures contract. Stocks in Wuxi fell the most amid limited arrivals and increased shipments out of social warehouses. Stocks in Gongyi rose as consumption was sluggish.

Aluminium billet: Domestic aluminium billet social inventory was 141,500 mt as of June 15, up 3,200 mt on a weekly basis and still the highest compared to same period of past three years.