DJ UPDATE: IAI: Mar 09 World Aluminum Stocks Drop 6% On Mo

LONDON, Apr 27, 2009 (Dow Jones Commodities News via Comtex) Total world aluminum inventories in March fell 6% on month to 2.74 million metric tons, figures released Monday by the International Aluminum Institute show. Inventories declined 172,000 tons from 2.912 million tons in February, IAI said. On the year, inventories were 4% below last March's 2.850 million tons. The IAI details inventories as follows, in thousands of tons: March '09 February '09 March '08 Africa 88 101 109 North America 615 636 760 Latin America 249 251 236 Asia 381 420 297 Europe 1296 1387 1305 Oceania 111 117 143 Total 2,740 2,912 2,850 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. Further clarification can be found in "A Guide to the IPAI Statistical System - Revised Aluminum Inventory Reporting Guidelines" (dated Oct. 28, 1999) which is available from the IAI.