IAI: Aug '08 World Aluminum Stocks Up 127,000 Tons On Month

LONDON, Sep 26, 2008 (Dow Jones Commodities News via Comtex) --Total world aluminum inventories in August 2008 rose by 127,000 metric tons to 3.026 million metric tons, from 2.899 million tons in July, according to figures released Friday by the International Aluminum Institute. August's figure was up 78,000 tons from the August 2007 inventory figure of 2.948 million tons. The IAI details inventories as follows, in thousands of tons: August '08 July '08 August '07 Africa 99 109 121 North America 773 764* 770 Latin America 239 262* 224 Asia 347 343* 372 Europe 1,417 1,284* 1,321 Oceania 151 137 140 Total 3,026 2,899 2,948 (* Denotes a revised figure) NOTE: The data included in this IAI Statistical Report have been derived exclusively from returns by the primary aluminum producers themselves. These producers may be either Members of the IAI or Official Correspondents, the latter being enterprises possessing, or which have possessed, effective control over primary aluminum production but which are not Members. Official Correspondents are approved by the Board of the Institute. Neither sources outside the industry nor estimates are used. Unwrought aluminum is 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. Unwrought and total aluminum inventories are all relevant inventories over which primary aluminum producers have some degree of control, with the exception of metal included in LME or COMEX stock reports. -By Devon Maylie, Dow Jones Newswires;