Aluminium prices rise on Mozambique smelter shutdown
Aluminium prices rose by 0.23% to ₹282.2 amid tightening global supply after the Mozal smelter in Mozambique announced a shutdown by March. LME aluminium stocks declined to 452,600 tons, reflecting supply constraints.
after close1 source ↓written by the desknot a recommendation
- prices increased
- 0.23%
- as global supply
- ₹282.2
- warehouses fell
- 452,600 tons
- month-on-month
- 5.2%
- month-on-month
- 312,100 tons
Aluminium prices increased by 0.23% to ₹282.2 as global supply concerns mount following the shutdown of the Mozal smelter in Mozambique by March. This move is expected to reduce global output next year, compounded by disruptions at Iceland’s Grundartangi smelter.
On-warrant aluminium stocks in LME-registered warehouses fell to 452,600 tons, while Japanese port inventories dropped 5.2% month-on-month to 312,100 tons, indicating a tightening market. However, demand concerns from weak economic data in China may limit further price gains.
Not investment advice. For informational purposes only.