16 AUGUST 2012Platts
LME aluminum alloy stocks in S Korea drop 40% to 7,820 mt
Edited by : AL CIRCLE
1 min read
Stocks of aluminum alloy ingot stored at the London Metal Exchange warehouse in Guangyang of South Korea have dropped to 7,820 mt on August 9, down 39.6% from 12,960 mt on July 9, according to recent LME data.
The stocks have dropped mainly due to Japanese buying, fueled by the LME aluminum alloy prices falling by $200/mt in the last four months, South Korean and Japanese trade sources said.
Aluminum alloy ingot includes 226-grade used by the Japanese secondary aluminum alloy smelters as feedstock, as well as ADC12 used by diecasters. Trade and secondary aluminum smelter sources said the recent imports into Japan are believed to be mostly of 226-grade.
Japanese customs data showed that aluminum alloy imports from South Korea to Japan increased to 2,561 mt during the January-June 2012 period from 773 mt in the same months in 2011.
The stocks have dropped mainly due to Japanese buying, fueled by the LME aluminum alloy prices falling by $200/mt in the last four months, South Korean and Japanese trade sources said.
Aluminum alloy ingot includes 226-grade used by the Japanese secondary aluminum alloy smelters as feedstock, as well as ADC12 used by diecasters. Trade and secondary aluminum smelter sources said the recent imports into Japan are believed to be mostly of 226-grade.
Japanese customs data showed that aluminum alloy imports from South Korea to Japan increased to 2,561 mt during the January-June 2012 period from 773 mt in the same months in 2011.
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