SMM Weekly Updates On China Aluminium Ingot Inventories As Of May 25

SHANGHAI, May 26 (SMM) -The aluminium ingot social inventories across China’s eight major markets stood at 657,000 mt as of May 25, down 49,000 mt from a week ago and 273,000 mt from the same period last year. The weekly decline slowed down significantly, and stocks in different regions diverged. Cargo arrivals in south China fell sharply in the middle of this week and were less than 1,000 mt on Thursday May 25, while cargo outflows from local warehouses picked up slightly, driving down local stocks. Smelters stepped up shipments to east China after local aluminium prices exceeded those in south China. Meanwhile, rapidly expanding spot premiums cooled down transactions in east China, thus the decline in local stocks was relatively slow.