Unwrought aluminium stocks fell to 1.203 million tonnes in December 2009 compared with 1.676 million tonnes in December 2008. For the month of November the stocks of unwrought Aluminium were revised to 1.125 million tonnes as per the figures released by International Aluminium Institute (IAI).
Total aluminium smelter stocks excluding finished end-products fell to 2.227 million tonnes at the end of December from a revised 2.184 million tonnes in November.
Meanwhile LME inventories data suggests that Aluminium stockpiles were at 4627700 tonnes as against 4624425 tonnes at the start of 2010.
Prices of LME Aluminium were at $ 2216 per tonne at the time of closing on Tuesday. Correction was evident in all the Base metals on account of monetary tightening measures by China and economic concerns in the world's second largest economy Japan. S&P suggested a de-rating of Japan on low growth which caused stir in the markets.
Meanwhile, MCX Aluminium is trading at Rs 101.85 per kg down by 0.68%. The prices can further correct towards Rs 100 in short term if Dollar continues its bull run.
豫公网安备41010502003434号