Commodities Buzz: Aluminium Market Looks Robust, LME Inventories At One Month Low

LME Aluminium soared nearly 2% yesterday as a recovery after testing a low of US$ 2,260 per tonne extended amid steady equities and buoyant commodity prices. The metal surged above $ 2300 per tonne last night from calm US-Sino trade tension. Meanwhile, the LME Aluminium inventories slipped to a one month low of 1259300 tonnes yesterday. Inventories have been falling constantly after rising in April. Global Aluminium prices have hit their highest levels since 2011 following US sanctions against Russian producer Rusal. The price for the metal has rallied by more than 20% since the US Treasury slapped sanctions against Rusal and its founder Oleg Deripaska.