Total aluminum inventories rise to 2.519 million mt in Oct '14: IAI

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

As per IAI figures, the total aluminum inventories increased 2.36% over the previous month in October ‘14 to touch 2.519 million mt. The inventories rose by 58,000 mt over the month. The total aluminum inventories had totaled 2.461 million mt during September this year.

Also, year-on-year, the aluminum inventories were up by 364,000 mt from October 2013 levels. The inventories were higher by 16.42% when compared with October last year. The aluminum inventories had totaled 2.217 million mt by end-October last year.

Global unwrought aluminum inventories during October this year maintained similar trend. The total unwrought inventories were up 2.26% over the previous month in Oct ’14 to touch 1.402 million mt. The inventories edged higher by 31,000 mt over the month. The total unwrought inventories had totaled 1.371 million mt during September this year.

Also, year-on-year, the unwrought aluminum inventories were up by 297,000 mt from October 2013 levels. The inventories were higher by 26.8% when compared with the same month last year. The unwrought inventories had totaled 1.105 million mt by end-October last year.