METALS-Aluminium climbs for 6th straight session as inventory draw continues

Unlike with copper, there is no huge aluminium exchange inventory cushion in the U.S., with just 5 tons sitting in Owensboro, Kentucky AL-OWNTTTD-STX on the COMEX.

LME copper CMCU3, meanwhile, gained 0.5% to $14,150.50 a ton, consolidating above $14,000 after posting its strongest weekly gain since May last week.

China's imports of unwrought copper fell 11.5% year-on-year to 425,000 tons in July, while the Yangshan premium SMM-CUYP-CN, a gauge of China's appetite for imported copper, fell to $101 a ton on Friday, its lowest since July 20.

"Copper continues to be supported by tight physical markets, low inventories, and ongoing supply concerns," Manthey said.

Elsewhere, zinc CMZN3 added 0.5% to $3,278.50, lead CMPB3 gained 0.7% to $1,900, nickel CMNI3 nudged up 0.2% to $17,030 and tin CMSN3 climbed 0.9% to $56,030.

Aug. 10 (Reuters) - Aluminium rose for a sixth straight day on Monday, striking its highest in almost seven weeks, as exchange inventories of the lightweight metal continue to be depleted.

Benchmark three-month aluminium CMAL3 on the London Metal Exchange was up 1.4% at $3,326.50 per metric ton as of 0900 GMT. It earlier touched $3,336.50, its highest since June 23.

ING commodities strategist Ewa Manthey said the recent rally in copper, which hit a six-month high last week, had reinforced the broader bullish sentiment across industrial metals.

"Aluminium's own fundamentals remain supportive, with exchange inventories still low and the market expected to remain in deficit this year," she added.

Overall LME aluminium inventories CMAL3 are the lowest this century at 254,900 tons, with available or on-warrant stocks the lowest since April 2025. In top metals consumer China, meanwhile, there was a 13,000-ton draw on Shanghai Futures Exchange aluminium stocks AL-STX-SGH last week.