The social inventories of aluminium ingots in China’s eight main markets were 1.04 Million MT as of Apr 6, down to 28K MT from Apr 3 & 50K metric tonnes from the previous week.
The amount was also 30K metric tonnes lower than during the same time previous year. Due to the approaching delivery of the SHFE 2304 agreement. And a decrease in supply in the spot market, spot discounts decreased this week.
While downstream producers mainly restocked as needed, commerce was more brisk among dealers.
Although slowly, the orders received by downstream businesses are increasing. Stocks of aluminium ingots are expected to continue to fall this month.
Due to an increase in the production of molten aluminium & increasing exports of ingots to other areas. The number of aluminium ingot arrivals in Wuxi, east China, have decreased since late March.
For the time being, the maintenance of the Lanzhou-Xinjiang railway has not significantly affected the arrival of ingots in important markets.