LME Aluminium inventories surge – ING

Source Fxstreet

Readily available Aluminium inventories in London Metal Exchange (LME) warehouses jumped by 92,950 tonnes to 343,025 tonnes yesterday. It’s the biggest tonnage increase since May 2024. It comes after Aluminium ordered for withdrawal from warehouses in Malaysia was placed back on warrant, ING's commodity experts Ewa Manthey and Warren Patterson note.

Chinese Aluminium output reaches a record high in April

"Aluminium prices on the LME fell more than 1% in yesterday’s trading, leading most metals lower. Surging inventories added to the downbeat mood along with Moody’s downgrade of US debt and mixed economic data releases from China."

"Meanwhile, in Aluminium supply developments, Chinese output reached a record high last month. Primary Aluminium output in April rose 4.2% year-on-year to 3.75m tonnes (flat with the March level). For the year-to-date period, output rose 3.4% year-on-year to 14.79m tonnes, according to the latest data from China’s National Bureau of Statistics."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.
Author  FXStreet
Aug 22, 2023
Prioritize filling the $27,000 gap and even try higher.
placeholder
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Author  FXStreet
Jul 01, 2024
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
placeholder
Ethereum (ETH) Underperforms All Top 5 Major Cryptos in Brutal 2025 DowntrendDespite signs of improving momentum, with RSI climbing and EMA lines hinting at a potential breakout, ETH continues to lag behind competitors like Solana in multiple metrics.
Author  Beincrypto
Apr 23, Wed
Despite signs of improving momentum, with RSI climbing and EMA lines hinting at a potential breakout, ETH continues to lag behind competitors like Solana in multiple metrics.
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Bitcoin Weekly Forecast: The calm before the stormBitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday.
Author  FXStreet
Jun 20, Fri
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday.
Related Instrument
goTop
quote