LONDON, Jul 26, 2011 (Dow Jones Commodities News via Comtex) -- Total world aluminum inventories in June fell by 123,000 metric tons to 2.534 million tons, according to figures released Tuesday by the International Aluminum Institute.
World stocks in May stood at 2.657 million tons.
June stocks were up 282,000 tons compared with the same month of 2010, when inventories were recorded at 2.252 million tons, the IAI said.
The IAI details inventories as follows, in thousands of tons:
June '11 May '11 June '10
Africa 115 145 80
North America 610 634 556
Latin America 207 212 177
Asia 448 450 358
Europe 1,065 1,129 990
Oceania 89 87 91
Total 2,534 2,657 2,252
NOTE: The data included in this IAI Statistical Report have been derived exclusively from returns by the primary aluminum producers themselves. These producers may be either Members of the IAI or Official Correspondents, the latter being enterprises possessing, or which have possessed, effective control over primary aluminum production but which are not Members. Official Correspondents are approved by the Board of the Institute.
Neither sources outside the industry nor estimates are used.
Unwrought aluminum is aluminum in its basic cast form made from primary metal or from scrap and which is unworked in the metallurgical sense.
Total aluminum is unwrought aluminum plus unprocessed scrap, metal in process and finished semi-fabricated (mill) products.
Unwrought and total aluminum inventories are all relevant inventories over which primary aluminum producers have some degree of control, with the exception of metal included in LME or COMEX stock reports.
Further clarification can be found in "A Guide to the IPAI Statistical System - Revised Aluminum Inventory Reporting Guidelines" (dated Oct. 28, 1999) which is available from the IAI.