China’s aluminium ingot inventories manifested downtrend in March’24 due to boosted activities in downstream sector
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Update time : 2024-04-23 18:59:38
In tandem with the enthusiastic buying and selling activities of the aluminium downstream processing enterprises since the beginning of March, owing to the arrival of the traditional peak season, aluminium ingot inventories showed signs of decline at the end of March, as was predicted by SMM earlier.
However, due to the rally of Chinese domestic aluminium prices, primarily from the beginning of April, aluminium ingot destocking took a back seat. The downstream activities also slowed down during the three-day holiday for the Qingming Festival, which also inhibited aluminium ingot destocking.
