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World reported Aluminium inventories declined to 2.43 million tons in October 2011. International Aluminium Institute data showed that the total reported inventories were down by 4% from 2.54 million tons in the month of September 2011. Inventories drawdown was noted in North America, Africa and Europe whereas South America, Asia and Oceania noted a rise in the inventory levels.
Europe showed a decline of 9.5% from 1.084 million tons in September to 0.98 million tons in October 2011. Inventories in North America were 578000 tons in October 2011 as against 587000 tons in September 2011, down 1.5%. African inventories were 122000 tons in October compared to 146000 tons last month.
Asian inventories were at 465000 tons in October 2011, up 3.1% from 451000 tons in September 2011. Oceania that included Australia and New Zealand showed an inventory level of 89000 tons in October 2011, up 3.5% from 86000 tons in September 2011.
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India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.