Aluminum Stockpiles Fall to Six-Month Low, LME Data Shows

Aluminum inventories monitored by the London Metal Exchange declined to the lowest level in six months, falling for a 33rd session on worldwide declines.

Inventories of the lightweight metal declined 8,900 metric tons to 4.43 million tons, exchange data showed today. They are at the lowest level since Jan. 12. Stockpiles have dropped 5.9 percent since May 24. Most declines were registered in the U.S., followed by the U.K. and Singapore.

Stockpiles in the U.K. have declined 19 percent since the beginning of May. Inventories in Hull have declined 42 percent during the period, while Liverpool inventories are down 15 percent. Total orders to draw aluminum from LME warehouses, known as canceled warrants, fell 8,700 tons to 395,775 tons.

Zinc inventories extended gains to the highest level in more than 16 years after a third straight increase in New Orleans. Stockpiles rose 15,100 tons, or 1.7 percent, to 894,825 tons, the most metal since May 26, 1995, according to data.

Inventories climbed 15,850 tons, or 3 percent, to 549,825 tons in New Orleans. Stockpiles rose 41 percent this year. The location stores 61 percent of all LME zinc stock. Canceled warrants for zinc fell 800 tons to 45,325 tons.

Canceled warrants for nickel jumped 408 tons, or 7.2 percent, to 6,036 tons, driven by increases in Busan, South Korea, and Singapore. Stockpiles dropped 144 tons to 104,226 tons, the lowest level since March 25, 2009.

Lead inventories extended declines to the lowest level in more than two months, falling 1,575 tons to 306,725 tons on decreases in Singapore. Canceled warrants fell 1,850 tons to 22,125 tons.