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Copper added 0.11%, aluminium advanced 1.01%, zinc rose 1.14%, nickel gained 0.71%, lead increased 0.42% and tin strengthened 1.06%. China HRC inventories rose to 3.49 million mt this week China HRC stocks across social warehouses and steel makers rebounded this week.

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Aluminium billet inventories dipped 0.3% on week. SMM data showed that stocks of 6063 aluminium billet across the five major consumption areas – Foshan, Wuxi, Huzhou, Changzhou and Nanchang – in China dropped 200 mt from the previous week to 88,300 mt as of May 27. Stocks declined in Wuxi and Changzhou, but built up in other areas.

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From 1989 until 2015 the average aluminium price on the LME was USD 1,806 per tonne. The record was achieved in July 2008 when the price of a tonne of aluminium came up to USD 3,271. The price hit an all-time low in November 1993. A tonne of aluminium was traded then at USD 1,023.

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