The London Metal Exchange (LME) announced data showing that on May 23rd, LME aluminum inventories increased to a new high in over two years, but then entered a smoother downward channel. Last week, inventories continued to decline, with the latest inventory level standing at 976,725 tons, refreshing a two-month low. According to the data released by the Shanghai Futures Exchange (SHFE), on the week of July 12th, Shanghai aluminum inventories continued to accumulate, with weekly inventories increasing by 7.45% to 262,200 tons, hitting a new high in over a year. (WenHua Finance News)
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