BEIJING: Prices of aluminium futures in Shanghai gained on Monday, supported by a strong price rally in key raw material alumina and robust demand.
The most-traded July aluminium contract on the Shanghai Futures Exchange advanced 0.4% to 20,960 yuan ($2,894.03) per metric ton as of 0134 GMT.
The London Metal Exchange is closed on Monday for a bank holiday.
The most-traded SHFE alumina contract gained 8.3% last week, boosted by speculative trading given limited supply and rising demand expectations.
The most-traded July alumina contract climbed 0.7% to 4,106 yuan per ton.
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Also aiding prices was firm demand, especially the rapid increases in consumption from solar and electric vehicles sectors, analysts said.
SHFE copper little moved at 83,830 yuan a ton, nickel added 0.8% to 153,350, zinc was stable at 24,625 yuan, lead rose 0.7% to 18,605 yuan, while tin decreased 0.4% to 27,370 yuan.
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