Aluminium inventories in the Asian region declined in July after a gap of six months. Inventories were 3,83,000 tonne in June (3,71,000 tonne in June 2005), but last month they slumped to the 3,79,000 tonne level. | |
| In July last year, the region's aluminium inventories were at an even higher level of 3,85,000 tonne, according to according to the London-based International Aluminium Institute (IAI). The Asian region includes India, Japan and Indonesia. |
| |
| The recent fall in the metal's prices revived demand and, hence, the decline in inventories. |
| |
| Aluminium prices are currently in the $2,455 a tonne range on the London Metal Exchange compared with the peak of $3,270 on May 11. At the beginning of 2006 too, prices were at lower levels of $2,270 a tonne. |
| |
| Analysts said the meltdown in aluminium prices on the LME in the last few months has led to some signs of revival of demand from user industries. |
| |
| Aluminium production in the Asian region stood at 2,95,000 tonne in July against 2,74,000 tonne in the same month last year. |
| |
|
| |
