Aluminum stocks at Japan's 3 major ports slightly drop in Oct
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Update time : 2024-11-13 18:55:05
Marubeni Corporation, a major trading company in Japan, reported that the aluminum stocks at Japan's three major ports totaled 311,400 tons as of the end of October, falling by 0.5% compared to the previous month.
Among them, the stock in the Yokohama Port was 147,400 tons, down from 153,200 tons in the previous month; that in the Nagoya Port was 143,200 tons, increasing from 140,100 tons recorded last month; that in the Osaka Port was 20,800 tons, rising from 19,800 tons in the previous month.
As the global economy recovers and industrial production accelerates, demand for aluminum is likely to continue to grow. Besides, the expansion of global aluminum production capacity and intensifying market competition may also lead to an increase in aluminum supply.
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
