LME aluminum stocks fell below 1 million tons for the first time in more than a decade
On September 25th, the industry statistics of domestic aluminum ingots (including SHFE warehouse receipts) totaled 1.606 million tons, a decrease of 17,000 tons from last Thursday.
According to the news, the strike of Alcoa's Aluminium project continued. The union workers of the two alumina plants and the three bauxite mines began to strike on August 8. Workers worried that the new agreement had no job security. The timing of the strike was also sensitive, which coincided with the tight supply of alumina. Affected by this, aluminum prices rose by 20% in one month.
News Date: Sep 27th, 2018 Reported by Maggie.