Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Aluminum Alloy Stockpiles Reach Nine-Year High on Asian Gains

Don't Miss Out —
Follow us on:

June 29 (Bloomberg) -- Aluminum alloy stockpiles tracked by the London Metal Exchange rose to the highest level in more than nine years, while inventories of primary aluminum extended their drop to the longest in almost seven years.

Stocks of aluminum alloy, used to make parts for car engines, increased 1,960 metric tons to 121,180 tons, the highest since February 2002, LME data showed today. Inventories gained in Singapore and South Korea and are up 61 percent this month.

Aluminum inventories declined 13,300 tons, or 0.3 percent, to 4.51 million tons, the lowest level since Jan. 20. That was the 25th consecutive drop, the longest streak since Aug. 26, 2004. Stockpiles have dropped 4.2 percent since May 24, according to exchange figures.

Orders to remove aluminum from warehouses, or canceled warrants, gained 6,650 tons, or 1.5 percent, to 458,400 tons. They tripled at warehouses in Gwangyang, South Korea.

Zinc canceled warrants rose 1,350 tons to 49,525 tons, the highest level since September. The increase was driven by a 3,000-ton gain in Port Klang, Malaysia. Zinc stockpiles fell 1,650 tons to 864,400 tons.

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.