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Rio Tinto Alcan CEO: Stable Aluminum Stocks Will Be Short-lived
Edited by : AL CIRCLE
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The stabilization of aluminum inventories in exchange-approved warehouses may be short-lived as a result of a rising surplus during the second half, the chief executive of Rio Tinto Alcan said Thursday.
According to Jacynthe Cote, total inventory has been declining in the number of weeks of consumption that is available to the market.
Since early April, Chinese total stocks fell by over 600,000 metric tons on the back of strong demand from key consuming markets, although global London Metal Exchange and producer inventories rose by about 50,000 tons in the same period as inflows to London Metal Exchange warehouses offset outflows to non-registered ones, she noted.
According to Jacynthe Cote, total inventory has been declining in the number of weeks of consumption that is available to the market.
Since early April, Chinese total stocks fell by over 600,000 metric tons on the back of strong demand from key consuming markets, although global London Metal Exchange and producer inventories rose by about 50,000 tons in the same period as inflows to London Metal Exchange warehouses offset outflows to non-registered ones, she noted.
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