SMM: London Metal Exchange (LME) data released on Tuesday showed that Lun aluminum inventory high fell to 1642600 tons. Last week, the exchange's aluminium inventories peaked at more than 1.65 million tonnes, a new high in more than three years. Aluminium inventories on the exchange have rebounded from below 1m tonnes since late March, with a cumulative increase of nearly 70 per cent. Data released last week showed that Shanghai aluminum inventories fell for 14 weeks as of June 24, with weekly inventories falling 6.28% to 223715 tons, setting a new low since January 17. Note: generally speaking, declining stocks in domestic and foreign exchanges will support the futures price, otherwise, it will be bad for the futures price.
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