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Aluminum inventories decrease in London exchange
Edited by : AL CIRCLE
2 min read
Commodity reported that aluminum inventories nose dived yet again on London Metal Exchange today. The inventories saw a decline of 10825 tonnes on LME to 4544725 tonnes. Since beginning of June the inventories have declined by 3.12% from 4691450 tonnes.
During this period the prices of 3 month Aluminum forwards has been down by 6% to USD 2669.5 per kilogram. The fall in the prices has been due to the tensions in Greece related to high debt that eradicated buying from EURO currency.
Indian Aluminium futures have seen a decline of 5.1% from June 1st 2011 to INR 112.2 per kilogram. The prices at the beginning of June 2011 were at INR 118.3 per kilogram.
The Aluminium markets surplus for primary aluminium for January to April 2011 was 180000 tonnes that compared with a surplus of 417000 tonnes registered in the first 4 months of 2010 and with a surplus of 709000 tonnes in the whole of 2010.
World Bureau of Metal Statistics showed that the demand for primary aluminium in the first 4 months of 2011 was 13.64 million tonnes, 504 kilo tonne more then the equivalent total 2010.
Global production rose in January to April by 2 % compared with the first 4 months of 2010. Chinese output was estimated at 5533 kilo tonne and this currently accounts for 40% of the world production total. China was a net exporter of unwrought aluminium with exports exceeding imports by 96 kilo tonne. During the whole of the 2010 calendar year, Chinese net exports totalled 390 kilo tonne.
During this period the prices of 3 month Aluminum forwards has been down by 6% to USD 2669.5 per kilogram. The fall in the prices has been due to the tensions in Greece related to high debt that eradicated buying from EURO currency.
Indian Aluminium futures have seen a decline of 5.1% from June 1st 2011 to INR 112.2 per kilogram. The prices at the beginning of June 2011 were at INR 118.3 per kilogram.
The Aluminium markets surplus for primary aluminium for January to April 2011 was 180000 tonnes that compared with a surplus of 417000 tonnes registered in the first 4 months of 2010 and with a surplus of 709000 tonnes in the whole of 2010.
World Bureau of Metal Statistics showed that the demand for primary aluminium in the first 4 months of 2011 was 13.64 million tonnes, 504 kilo tonne more then the equivalent total 2010.
Global production rose in January to April by 2 % compared with the first 4 months of 2010. Chinese output was estimated at 5533 kilo tonne and this currently accounts for 40% of the world production total. China was a net exporter of unwrought aluminium with exports exceeding imports by 96 kilo tonne. During the whole of the 2010 calendar year, Chinese net exports totalled 390 kilo tonne.
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