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ALUMINIUM-Major market developments in June
Edited by : AL CIRCLE
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STOCKS
Total exchange stocks were at 4.743 million tonnes at the end of June, equating to around 39 days of demand.
Of the end June total, some 4.488 million tonnes were held in LME warehouses, down from 4.691 million a month earlier.
LME inventories reached a record high of 4.712 million tonnes around mid-May, but a concerted downtrend became evident later that month and continued through June.
Total visible stocks, including latest International Aluminium Institute (IAI) unwrought stocks were 6.316 million tonnes, down from 6.538 million a month earlier.
Estimated aluminium stocks at the Japanese ports of Yokohama, Nagoya and Osaka rose to a seven-month high of 225,400 tonnes at the end of May. The increase reflected delayed deliveries and a rise in imports, an official at trading house Marubeni Corp said.
Of the end June total, some 4.488 million tonnes were held in LME warehouses, down from 4.691 million a month earlier.
LME inventories reached a record high of 4.712 million tonnes around mid-May, but a concerted downtrend became evident later that month and continued through June.
Total visible stocks, including latest International Aluminium Institute (IAI) unwrought stocks were 6.316 million tonnes, down from 6.538 million a month earlier.
Estimated aluminium stocks at the Japanese ports of Yokohama, Nagoya and Osaka rose to a seven-month high of 225,400 tonnes at the end of May. The increase reflected delayed deliveries and a rise in imports, an official at trading house Marubeni Corp said.
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