Total aluminum inventories declined to 2.362 million mt in June '14: IAI

EDGWARE (Scrap Monster): According to figures released by the International Aluminum Institute (IAI), the total inventories of aluminum have declined over the previous month. However, the inventory levels stood high when compared with those during the same month a year before.

As per IAI figures, the total aluminum inventories declined 1.8% over the previous month in June ’14 to touch 2.362 million mt. The inventories dropped by 43,000 mt over the month. The total aluminum inventories had totaled 2.405 million mt during May this year.

However, year-on-year, the aluminum inventories were up from June 2013 levels. The inventories were higher by 6.5% when compared with June last year. The aluminum inventories had totaled 2.217 million mt by end-June last year.

Global unwrought aluminum inventories during June this year maintained similar trend. The total unwrought inventories declined 1.38% over the previous month in June ’14 to touch 1.285 million mt. The inventories dropped by 18,000 mt over the month. The total unwrought inventories had totaled 1.303 million mt during May this year.

However, year-on-year, the unwrought aluminum inventories were up from June 2013 levels. The inventories were higher by 6.5% when compared with June last year. The unwrought inventories had totaled 1.178 million mt by end-June last year.