Aluminium-Falling stocks cushion the light metal in May'18

摘要

In May'18, LME Aluminium prices gained 1.6 percent to close at $2292 per tonne, while MCX prices surged 3.4 percent at Rs.l53.7/kg boosted further by rupee depreciation. Aluminium witnessed a volatile performance in May'18 as prices spiked in the earlier half citing sharp stock withdrawals from LME warehouses after news that the US extended deadline to October 23 from June 5, to wind down contracts with Rusal. As a result, LME Aluminium stocks plunged 9 percent while Shanghai inventories fell by 1.4 percent in May'18.