NewsSignals AI analysis·Reuters·Oct 28, 2026

Aluminium gains on supply uncertainty, broad risk-on mood

Grade Bbullish AI signal$ALI$XAU

Aluminium prices rose in London as tightening supply conditions and a broader risk-on mood supported the metal, with LME three-month aluminium gaining 0.58% to $3,105 per ton. LME aluminium was supported by a $27.64-per-ton backwardation and warehouse withdrawals of 3,500 tons, while SHFE-monitored stocks fell more than 10% last week to 212,858 tons. Persistent supply constraints and improving risk appetite could continue to support aluminium prices, although shifting market sentiment may limit further gains.

Bullish strength: 78/100

LME three-month aluminium rose 0.58% to $3,105 per ton.
LME cash-to-three-month spread showed a $27.64-per-ton backwardation, signaling tight near-term availability.
LME warehouses received withdrawal orders for 3,500 tons of aluminium.
SHFE-monitored aluminium inventories fell more than 10% to 212,858 tons.
Broader risk-on sentiment and improving risk appetite supported aluminium demand.

Bearish strength: 22/100

The most-traded SHFE aluminium contract edged 0.11% lower to 23,715 yuan per ton.
SHFE aluminium reversed earlier gains after a report on Chinese producers' overseas growth plans.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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