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This Monday (December 13), LME aluminum stocks dropped by 0.39% from the previous trading day, reaching 909,650 tons. LME aluminum futures closed at US$2,654/ton, an increase of 1.82%.
Due to the recent spread of the COVID-19 epidemic in China, the world’s main aluminum producer, transportation controls have become stricter in Shanghai, Zhejiang, Jiangsu, and Eastern China.
Moreover, 13 listed companies in Zhejiang announced their temporary production suspension. During the traditional peak season in December, the demand for aluminum is strong, which continuously dropped inventories, thereby making supply concerns obvious and leading to an increase in LME aluminum prices.
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