Aluminum delivery volume at Asian LME warehouses surges, aluminum prices maintain rise.

Jin10 data reported on September 9, in Asia, the aluminum withdrawal applications from the London Metal Exchange (LME) warehouses have significantly increased for the second consecutive day, driving aluminum prices to maintain their recent rise. After a 1% increase over the past two trading days, aluminum prices fluctuated around $2,615 per ton on Tuesday. In just two days, nearly 100,000 tons of aluminum have been requested for withdrawal from the LME warehouse in Malaysia, causing the volume of available inventory for other buyers to drop from a 14-month high. The LME aluminum market has been volatile this year, with traders scrambling to control exchange inventory. In June of this year, reports indicated that Mercuria Energy Group had hoarded over 90% of the available inventory and held an unusually large position in the market. This situation prompted the exchange to introduce new rules, requiring traders holding a large number of futures positions to lend them out at capped interest rates, as a supplement to the existing inventory holdings rules. Despite an increase in inventory in recent months, it remains at historically low levels, and supply concerns persist.