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Global Al Inventories Dropped 28% in August - IAI

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LONDON, Sept. 29 -- The Global unwrought aluminum inventories dropped by 28% in August on a yearly basis, according to the International Aluminum Institute (IAI).
&nbsp;&nbsp;&nbsp; There was a total of 1.23 million mt of unwrought metal stocks in August compared with 1.7 million a year earlier, the IAI said in its monthly report.
&nbsp;&nbsp;&nbsp; Inventories rose on a monthly basis from 1.17 million mt in July.
&nbsp;&nbsp;&nbsp; European inventories fell to 472,000 mt from 737,000 mt in August last year.
&nbsp;&nbsp;&nbsp; Stocks rose by 38,000 mt from July.
&nbsp;&nbsp;&nbsp; Inventories in Asia, excluding China, North Korea and Tajikistan, were drawn down to 210,000 mt in August from 240,000 mt a year earlier.
&nbsp;&nbsp;&nbsp; Stocks in Asia fell 3,000 mt from the previous month.
&nbsp;&nbsp;&nbsp; In North America, aluminum stocks fell to 273,000 mt in August compared with 378,000 in the corresponding month last year, but inventories rose from July by 10,000 mt, the IAI said.
&nbsp;&nbsp;&nbsp; Total stocks in Latin America stood at 124,000 mt in August compared with 147,000 in August 2008.
&nbsp;&nbsp;&nbsp; Aluminum inventories in the region rose from 119,000 mt in July.
&nbsp;&nbsp;&nbsp; Australian and New Zealand inventories ended August at 81,000 mt from 127,000 mt last year. This total was 3,000 mt higher that the previous month.
&nbsp;&nbsp;&nbsp; Inventories in Africa dropped by 6,000 mt on a yearly basis, bringing total stocks for August to 72,000 mt, level with their July total.
&nbsp;&nbsp;&nbsp; Three-month aluminum settled at USD 1,791/92/mt in the official session on the London Metal Exchange on Monday compared with USD 1,949/49.50/mt at the start of August.
&nbsp;&nbsp;&nbsp; (Source: Metal Bulletin) 
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Global Al Inventories Dropped 28% in August - IAI | Shanghai Non ferrous Metals

Global Al Inventories Dropped 28% in August - IAI

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