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Aluminium inventories piles up

With slump in auto and construction sector, the key industries which consume this metal, inventory levels have gone up a record 15 year high in LME. With pressure from inventory level, the price of it may drop further. Many players say, that inventories were gradually piling up in the last nine months and there are no signs of immediate revival, unless govt. stimulus packages revives the industry demand. Many small timers, who prefer to stockpile rather to sell at low price. It has a rough year for the metals industry and many aluminium smelters have cut production or shut shop over the last 6 months, citing low demand.

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