Aluminium prices gained ~0.50% on strength in LME markets, climbing to multi-month highs as inventory continues to fall.
👉 Source: Investing.com

Summary :

Aluminium prices gained 0.50% to settle at 262.95, tracking strength in LME prices, which hit a 16-month high amid declining inventories and tightening supply conditions. LME on-warrant inventories fell 15% over the past month to 398,775 tons, reflecting strong physical demand and supply disruptions. Support also stemmed from Guinea’s mining crisis after the government revoked all licences from Guinea Alumina, potentially disrupting ore supplies to major producers like Emirates Global Aluminium. 

Aluminium prices gained 0.50% to settle at 262.95, tracking strength in LME prices, which hit a 16-month high amid declining inventories and tightening supply conditions. LME on-warrant inventories fell 15% over the past month to 398,775 tons, reflecting strong physical demand and supply disruptions. Support also stemmed from Guinea’s mining crisis after the government revoked all licences from Guinea Alumina, potentially disrupting ore supplies to major producers like Emirates Global Aluminium. 

Article Link :

https://in.investing.com/news/commodities-news/aluminium-rises-to-16month-high-tracking-lme-gains-and-falling-inventories-5036549?utm_