Current Aluminum Stocks in LME's Registered Warehouses Drop by 16%

According to the London Metal Exchange (LME) data, the current aluminum stocks in registered warehouses decreased by 16% yesterday, falling to 244,225 tons, marking the lowest level since May. Following the data, benchmark three-month aluminum prices rose and were last traded at $2,510 per ton, showing an increase of 0.8%. LME data indicates that the stocks of available or deliverable aluminum decreased yesterday as 45,050 tons were marked for delivery from the Port Klang warehouses in Malaysia. Additionally, LME data shows that a total of 380,050 tons of aluminum warrants were canceled yesterday, accounting for 61% of total stocks. Furthermore, according to LME data, the waiting time for receiving aluminum from the LME warehouses in Port Klang has exceeded six months as of the end of November, prompting some Asian companies to seek aluminum in warehouses in South Korea.