Aluminium Rises Due To Short Covering After Inner Mongolia Smelter Restarts.
Aluminium closed higher by 0.98% at 200.3, driven by short covering after a smelter in Inner Mongolia resumed production following a power outage. The extent of the production reduction is yet to be confirmed, contributing to market uncertainty. Downstream aluminium enterprises are gradually resuming production, with short-term operating rates recovering.
Despite seasonal inventory growth of aluminium ingots, the total volume remains relatively low compared to recent years. Market sentiment is heavily influenced by ongoing assessments of stimulus measures and looser monetary policy in China, impacting the demand for base metals.
