LONDON, Aug. 27 -- Global unwrought aluminum inventories fell by over 300,000 mt in July compared with the same month last year, according to the International Aluminum Institute (IAI).
Total stocks for July dropped to 1.2 million mt from 1.59 million mt in the corresponding period of 2008.
European stocks dropped to 460,000 mt in the month from 601,000 mt while inventories in North America fell to 263,000 mt from 378,000 mt, IAI said in its monthly statistics report.
Aluminum stocks in Asia, excluding China, North Korea, Iran and Kazakhstan, fell to 213,000 mt from 239,000 mt, while Inventories in Latin America fell in July to 119,000 mt from 174,000 mt in the corresponding month last year.
In the Oceania region, stocks for July were at 78,000 mt compared with 113,000 in 2008.
Stocks fell slightly in Africa to bring total inventories for the month to 72,000 from 86,000 mt.
Stocks across all regions dropped each month since March.
(Source: Metal Bulletin)