Aluminium gains as domestic social inventories of aluminium ingots are down by 24.6% YoY.
Aluminium closed with a modest gain of 0.3% at 202.05, buoyed by a significant decline in domestic social inventories of aluminium ingots, which were down by 24.6% YoY. This reduction marked the lowest level in the same period over the past six years, signalling potential tightening in supply conditions. However, Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange reported a 10.1% increase from the previous Friday, providing a mixed picture for market participants.
