Aluminium prices rose by 0.36% to close at 249.05, supported by expectations of tighter supply from China and stronger European demand.
The market saw mild short covering despite mixed fundamentals. Shanghai Exchange aluminium stocks rose by 9.1%, indicating sluggish factory activity in China.
China’s June aluminium production dipped 3.23% month-on-month but was up 3.4% year-on-year at 3.81 million tonnes.
Export volumes declined 5.1% year-on-year, reflecting tempered global demand. The Shanghai Exchange aluminium stocks rose by 9.1% from the previous week.
