LME aluminum stock rises with inflows into South Korea
Views : 80
Update time : 2023-08-25 15:26:43
The aluminum inventory in the LME-registered warehouses hiked to the highest since July 12 after around 38,700 tons of aluminum flowed into the South Korean port of Gwangyang. With the inflow, the LME’s aluminum inventory rose by 8% to approximately 530,000 tons.
Besides, after the hydropower supply improved, aluminum production in Yunnan, one of the biggest aluminum-producing regions in China, has also been rising, with output reaching near all-time high in July.
The increase in inventories could indicate a metal oversupply in the market. Investors have been worried about weak metals demand in China.
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag
