BEIJING- Prices of aluminum futures in Shanghai gained on Monday, supported by a strong price rally in key raw material alumina and robust demand.
The most-traded July aluminum contract on the Shanghai Futures Exchange advanced 0.4 percent to 20,960 yuan ($2,894.03) per metric ton.
The London Metal Exchange is closed on Monday for a bank holiday.
The most-traded SHFE alumina contract gained 8.3 percent last week, boosted by speculative trading given limited supply and rising demand expectations.
The most-traded July alumina contract climbed 0.7 percent to 4,106 yuan per ton.
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 percent to 153,350, zinc was stable at 24,625 yuan, lead rose 0.7 percent to 18,605 yuan, while tin decreased 0.4 percent to 27,370 yuan.
