Aluminum Stockpiles Fall the Most Since November, LME Data Shows

Aluminum inventories tracked by the London Metal Exchange fell the most since November, daily exchange figures showed today.

Aluminum stockpiles fell 9,000 metric tons, or 0.2 percent, to 4.64 million tons, the most since Nov. 10, led by declines in the U.S. and South Korea. Inventories fell for three straight weeks. Total canceled warrants, or orders to draw aluminum from LME stocks, rose 2,175 tons to 529,225 tons.

Copper inventories dropped for the first time in six days, falling 2,175 tons to 475,750 tons. The biggest declines were registered in Busan, South Korea, where inventories fell 1,475 tons to 66,200 tons. Stockpiles climbed to the highest level since May 2010 last week. Canceled warrants fell 1,425 tons to 18,775 tons.

Lead stocks fell 375 tons to 321,825 tons, while zinc stockpiles declined 350 tons to 865,475 tons.