Over the past weekend, major domestic consumption hubs experienced varying degrees of inventory build-up due to concentrated arrivals of different magnitudes. As July approaches, with the expectation of a slight increase in casting ingot production in some provinces, arrivals may continue.
Coupled with weak downstream consumption and slow cargo pick-up, SMM expects domestic aluminium ingot inventory to remain stable with a slight increase in the first half of July. Attention should be paid to the continuity of arrivals and inventory build-up to confirm whether the inventory build-up turning point in the off-season has truly arrived.
