SMM

Aluminium ingot inventory: The aluminium ingot social inventories across China’s eight major markets stood at 595,000 mt as of June 1, down 62,000 mt from a week ago and 287,000 mt from a year ago. The destocking was led by south China, where cargo arrivals continued to decline and consumption picked up a little. Arrivals in Wuxi fell as much as 20-30%, driving down local stocks rapidly. Limited arrivals and improved consumption allowed stocks in Gongyi to fall after building up in the previous week.  

Aluminium billet inventory: The domestic aluminium billet social inventory stood at 135,100 mt as of June 1, down 6,200 mt from a week ago. Arrivals increased significantly, while transactions failed to catch up. An increasing share of molten aluminium has been made into billets and other intermediate products. The current inventory is still the highest compared to the same period of past three years.

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