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World Aluminum Production Increases to Highest in Four Months

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LONDON, June 23&nbsp; -- Global aluminum output rose 5.1 percent to a four-month high in May as China, the world's largest producer, made more metal, the International Aluminium Institute said.
&nbsp;&nbsp;&nbsp; Production climbed to 2.96 million tons, the highest since January, from 2.81 million tons in April, according to figures posted today on the London-based institute's Web site. Chinese production gained 10 percent to 984,000 tons, the highest since November.
&nbsp;&nbsp;&nbsp; Aluminum, the most-traded contract on the London Metal Exchange, has advanced 5.2 percent this year, the least among all nonferrous metals traded on the bourse. Inventories tracked by the LME have jumped 87 percent in 2009, weighing on prices.
&nbsp;&nbsp;&nbsp; Daily average output in May was 95,400 tons, above the prior month's 93,800 tons and the highest since February, the institute said. Production of the lightweight metal, used in industries from packaging to aerospace, increased 4.4 percent to 141,000 tons in Africa and gained 1.8 percent to 403,000 tons in North America.
&nbsp;&nbsp;&nbsp; (Source: Bloomberg) 
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