China Nonferrous Metals News
Aladdiny: Aluminium ingot inventories at domestic smelters dropped further by 38.9 kt from last Friday to 220.7 kt on Monday.
Aladdiny research shows most domestic smelters are profitable at present and are making fast sales of aluminium ingots before the slack season leads to a gradual decline in stocks. However downstream demand from aluminium processors has been in decline recently, placing sales of aluminium ingot under pressure.
Aladdiny analysts project aluminum smelters will adhere to their fast sales tactic and inventories at smelters are likely to fall further in the short-term.