India Infoline
Aluminium Inventories In China Appreciates On Some Restocking
Edited by : AL CIRCLE
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Aluminium inventories in Shanghai appreciated during the week ending 4 Oct 2011 giving an indication that some restocking exercise was under way in the metal after week imports reported for September.
After the decline in China PMI this month the markets were wondering that the intake of Aluminium and other metals will be lower in the midst of all this the inventories showed an increase. Shanghai Aluminium warehouse inventories registered a rise of 8614 tons to 121943 tons.
Unwrought Aluminium imports during the month of September were down by 6.8% on a monthly basis. On a yearly basis the inventories were up by 0.6% to 66163 tons in September. Some rise in the month of October is anticipated and if that happens it will be a boost to the Aluminium prices. The LME Aluminium prices have come down to $ 2111.5 per ton, down 15% from $ 2475 per ton at the initiation of 2011.
After the decline in China PMI this month the markets were wondering that the intake of Aluminium and other metals will be lower in the midst of all this the inventories showed an increase. Shanghai Aluminium warehouse inventories registered a rise of 8614 tons to 121943 tons.
Unwrought Aluminium imports during the month of September were down by 6.8% on a monthly basis. On a yearly basis the inventories were up by 0.6% to 66163 tons in September. Some rise in the month of October is anticipated and if that happens it will be a boost to the Aluminium prices. The LME Aluminium prices have come down to $ 2111.5 per ton, down 15% from $ 2475 per ton at the initiation of 2011.
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