LME Aluminium inventories surge – ING
|Readily available Aluminium inventories in London Metal Exchange (LME) warehouses jumped by 92,950 tonnes to 343,025 tonnes yesterday. It’s the biggest tonnage increase since May 2024. It comes after Aluminium ordered for withdrawal from warehouses in Malaysia was placed back on warrant, ING's commodity experts Ewa Manthey and Warren Patterson note.
Chinese Aluminium output reaches a record high in April
"Aluminium prices on the LME fell more than 1% in yesterday’s trading, leading most metals lower. Surging inventories added to the downbeat mood along with Moody’s downgrade of US debt and mixed economic data releases from China."
"Meanwhile, in Aluminium supply developments, Chinese output reached a record high last month. Primary Aluminium output in April rose 4.2% year-on-year to 3.75m tonnes (flat with the March level). For the year-to-date period, output rose 3.4% year-on-year to 14.79m tonnes, according to the latest data from China’s National Bureau of Statistics."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.