London aluminum prices edged higher on Tuesday, supported by jitters over supply disruption as ceasefire talks between Russia and Ukraine showed no sign of progress, while investors weighed the fallout from record coronavirus cases in top consumer China.
Three-month aluminum on the London Metal Exchange (LME) was up 0.3 percent at $3,532 a ton, hovering close to a near two-week high scaled on Monday.
The most-traded May aluminum contract on the Shanghai Futures Exchange SAFcv1 eased 0.3 percent to 22,950 yuan ($3,608.32) a ton.
“The world is trying to adapt and learn how to accept COVID as part of daily life, and a great example of that is Xi Jinping’s request to tackle COVID with minimal disruption to the economy and society in general,” said Matt Simpson, senior market analyst at City Index.
