LatAm Al stocks soar 23% in Jun

Latin American stocks of aluminum totaled 201,000t at the end of June, 23.3% higher than same-time last year, the latest report from the London-based International Aluminum Institute (IAI) reveals. Inventories were down 7.37% from 217,000t at the end of May this year, the report said. Meanwhile the region's stocks of unwrought aluminum soared 44.7% year-over-year to 123,000t at end-June but were 6.1% lower than 131,000t at end-May this year. Latin America aluminum figures are based on activity in Brazil, Venezuela and Argentina. Unwrought aluminum is defined as aluminum in its basic cast form made from primary metal or from scrap and which is unworked in the metallurgical sense. Total aluminum is unwrought aluminum plus unprocessed scrap, metal in process and finished semi-fabricated mill products. Global aluminum stocks stood at 3.21Mt at end-June, an increase of 7.9% on same-month last year but 2.10% lower than 3.22Mt at the end of the previous month. World inventories of unwrought aluminum stood at 1.82Mt at the end of June, a 10.7% increase from same-time 2004 but 2.89% off the previous month this year.