Readily available aluminum inventories in London Metal Exchange warehouses plunged to a record low, the latest evidence of mounting tension in the global metals market between tight supplies versus a darkening outlook for industrial demand. Metal not already marked for withdrawal dropped 9.7% to 260,275 tons, surpassing a previous low set in 2000, to hit a record in data going back to 1997. Stockpiles have slumped 63% so far this year, heading for a record annual decline, with robust demand and a slew of smelter curtailments pushing the market into a deepening deficit. Yet, despite the shrinking inventories, the ... (full story)