METALS-Aluminium falls as EGA reaffirms output recovery timeline
XLB•Zinc, lead, nickel and tin prices
LME zinc CMZN3 climbed 0.4% to $3,744, lead CMPB3 gained 0.1% to $1,909, nickel CMNI3 added 0.5% to reach $16,910, while tin CMSN3 lost 0.3% to $55,745.
Other LME metals and copper market signals
In other LME metals, copper fell 0.1% to $14,133 a ton but remained above a key psychological level of $14,000 amid supply worries due to temporary shutdown of a smelter in Indonesia and concerns about tight inventories after outflows to the U.S.
The premium of the LME cash copper contract over the benchmark CMCU0-3 remained high - last at $162 a ton, signalling tightness for nearby supply ahead of the expiry of contracts next Wednesday.
In top metals consumer China, the Yangshan copper premium SMM-CUYP-CN fell to its one-month low of $96 a ton from a peak of $115 a ton on July 22, indicating weaker demand from Chinese importers as high prices dented buying interest.
Aluminium falls after EGA reiterates 2027 recovery plan
Aluminium prices fell on Wednesday after major producer Emirates Global Aluminium reaffirmed it would resume full-scale production at its war-damaged smelter in the first quarter of 2027, easing worries about future supply deficits.
Benchmark three-month aluminium CMAL3 on the London Metal Exchange was down 1.7% at $3,305 a metric ton by 1617 GMT.
The metal had been rising for seven previous sessions, hitting a seven-week high of $3,384.5 on Tuesday as worries over supply from the Gulf coincided with Norsk Hydro's announcement of reduced feedstock production at its Brazilian plant.
Abu Dhabi-based EGA said its Al Taweelah smelter, which was damaged by an Iranian strike in March, was operating at 18% capacity. As EGA organised export routes outside the Strait of Hormuz since March, its total sales fell by only 32% to 939,000 tons in the first half of 2026.
