Base metals prices on the London Metal Exchange (LME) showed positive trends except zinc. Aluminium witnessed the largest rise of 2.04% while the steepest decline was seen for zinc – 1.22%. Meanwhile, metal stocks at LME-registered warehouse showed a mixed trend. The largest outflow was seen in lead, which fell by 2.15% while the significant inflow was seen in zinc, which was up by 7.86%.

Aluminium prices rose driven by China’s economic measures, anticipated US rate cuts, and regional conflicts. Production rose too reaching 3.68 mnt in July, while demand remains weak. Global output in June increased by 3.2% y-o-y to 5.94 mnt, with China leading in production growth.