India: Imported aluminium scrap prices increase W-o-W; LME aluminium edges up
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LME aluminium edges up W-o-W
Three-month aluminium prices on the London Metal Exchange (LME) traded slightly higher w-o-w, closing at USD 3,175/t on 21 July against USD 3,167.5/t on 14 July, up by USD 7.5 per tonne, or 0.2 per cent W-o-W. Meanwhile, LME aluminium inventories declined by 4,825 t, or 1.7 per cent W-o-W, to 279,775 tonnes on 21 July from 284,600 tonnes on 14 July.
LME aluminium prices edged up W-o-W, supported by declining exchange inventories and continued concerns over tight global supply. Although production has gradually improved following the easing of disruptions in the Middle East, lower LME stocks and ongoing supply-side uncertainties continued to underpin market sentiment and keep prices firm.
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