AA - Aluminum on the rise as Chinese demand strengthens

Aluminum prices (LMAHDS03:COM) are hovering near 18-month highs, with London Metal Exchanges three-month futures ending Friday at $1,863.50/mt, the highest closing level since April 2019.Other base metals also have been setting new highs on the LME, with tin touching a 15-month closing high of $18,570/ton and nickel reaching an 11-month intraday high of $15,870/ton.Base metals have rallied since China rebounded from its coronavirus lockdown, but aluminum trailed other metals because a large glut had built up in warehouses as smelters had been slow to reduce production as demand eased.After reaching their highest level in more than three years in July, stockpiles stored at LME-approved warehouses have since declined by 14% as factories have ramped up orders.There also have been signs that demand from global car makers has picked up, as European car sales rose in September for the first time this year.Potentially relevant tickers include [[AA]], [[CENX]], [[KALU]], [[ARNC]], [[ACH]]ETFs:

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Aluminum on the rise as Chinese demand strengthens