Primary aluminium inventory registered to London Metal Exchange could increase in 2012 after the stock hit record 4.95 million tonnes now. Japanese trading firm sources see the stock would reach 5 million tonnes depending on world economy.
A trading firm source sees aluminium suppliers keep selling to warehouses when US financial institutes' warehouses increase incentive for the ingot purchase.
Asian and European warehouses also keep paying higher incentive for the deal.
The smelters could keep selling the ingot to risk free financial institutes instead for the users.
A trader source said Vlissingen of Netherlands with 900,000 tonnes of stock is like Detroit of USA in the overstock. The stock in Johor, Malaysia would increase due to slow demand after Thai flood.
Slower demand supports the higher stock when the users in USA, Europe and Japan reduce the purchase volume by 10-20% for 2012. A Japanese trading firm source said the world demand should decrease at least in first half of 2012.
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