Aluminum prices rose 0.42% to settle at 253.45, supported by renewed confidence in China’s policy measures aimed at bolstering key industries such as machinery, automobiles, and electrical appliances—all major consumers of aluminum. This optimism helped offset the impact of softer short-term demand.
Data from the International Aluminum Institute showed global primary aluminum output increased 0.9% year-on-year to 6.045 million tons in June. However, signs of easing demand emerged as LME inventories grew by 15,000 tons to 415,000 tons, and Shanghai Futures Exchange inventories rose 5.5% for the week.
Meanwhile, China’s aluminum exports declined to 489,000 tons in June from 547,000 tons in May, reflecting shifts in trade patterns and weakening foreign demand.
