May 20 News:
According to SMM statistics, on May 20, the inventory of aluminum ingots in Guangdong was 238,000 mt; in Wuxi, it was 162,000 mt; and in Gongyi, it was 57,500 mt. The total inventory across these three locations was 457,500 mt, a decrease of 4,500 mt from the previous trading day. SMM expects that although domestic arrivals will remain relatively low in mid-May, allowing domestic aluminum ingot inventory to maintain a destocking trend in the short term, with the potential to continue declining in the near future; however, under normal circumstances, due to the overall smooth domestic transportation in May, combined with the expectation of weaker outflows from warehouses during the off-season, the circulation of aluminum ingots in major domestic consumption areas may gradually ease from late May to early June.
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