Aluminum stocks easily available in the warehouses of the London Metal Bag (LME) increased by 92,950 tons to 343,025 tons yesterday. It is the largest tonnage increase since May 2024. This occurs after the aluminum requested to withdraw the stores in Malaysia was placed again in guarantee, experts in raw materials of ING, Ewa Manthey and Warren Patterson indicated.
Aluminum production in China reaches a historical record in April
“Aluminum prices in the LME fell more than 1% in yesterday’s operations, carrying the majority of metals. The increase in stocks contributed to the pessimistic mood along with Moody’s’s reduction on US debt and Mixed economic data in China.”
“Meanwhile, in aluminum supply developments, Chinese production reached a historical record last month. Primary aluminum production in April increased 4.2% year -on -year to 3.75 million tons (equal to the level of March). For the accumulated period of the year, production increased 3.4% year -on -year to 14.79 million tons, according to the latest data from the National Office of Statistics of China.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
