Inventory of LME Aluminium Hit a New Low of over 16 Years

According to the data released by the London Metal Exchange (LME), inventory of LME aluminium continued to fall last week after surging by 119,000 mt to 880,975 mt on February 10, with the latest stocks at 609,850 mt, down to a new low of more than 16 years. According to the data released by SHFE, inventory of SHFE aluminium increased slightly, which has dropped for three weeks. The weekly stocks have increased by 0.53% to 307,420 mt in the week of April 8, down to a low level in one and a half months. Note: In general, declining stocks in SHFE and LME will be supportive of futures prices, and conversely, bearish.