China’s Aluminium Ingot Inventory continue to slide
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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.
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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.
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While downstream producers mainly restocked as needed, commerce was more brisk among dealers.
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Although slowly, the orders received by downstream businesses are increasing. Stocks of aluminium ingots are expected to continue to fall this month.
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For the time being, the maintenance of the Lanzhou-Xinjiang railway has not significantly affected the arrival of ingots in important markets.
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