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Aluminium Gains As The Market Factored In Seasonally Stronger Demand.
Aluminium prices edged up by 0.17% in the previous session, closing at 204.3, as the market anticipated seasonally stronger demand. However, gains were tempered by robust supplies from China, the world’s top producer of aluminium. Despite concerns over growing inventory levels in China, analysts suggest that the increase could be part of a seasonal pattern in preparation for heightened consumption expected in the second quarter of the year. Inventory data reveals a significant uptick in aluminium stocks, with a staggering 85% increase so far this year in warehouses monitored by the Shanghai Futures Exchange.
