SHFE and LME Aluminium Closed with Gains Overnight

SHANGHAI, Mar 29 - The most active SHFE 2305 aluminium contract closed at 18,705 yuan/mt in overnight trading, up 15 yuan/mt or 0.08%. LME aluminium prices finished the day at $2,382.5/mt, a gain of $17.5/mt or 0.74%. On the macro level, the pace of Fed rate hikes seems to be slowing down, raising market uncertainties.

On the fundamentals, although the supply has slightly improved, the continuous recovery of the downstream consumption led to the rapid destocking of social inventories, giving support to aluminium prices.