The primary aluminium price edged higher at the LME the previous week, gaining significant ground. The light metal opened the week on a strong footing at $2,132/mt on Monday (01/03) supported by copper and the stocks decline at the exchange by 5,275 tons. Stocks continued to move lower, resulting in aluminum pushing further up to $2,140/mt and $2,165/mt on Tuesday and Wednesday respectively.

Thursday saw the light metal rocketing to $2,233/mt aided by another plunge in LME stocks, a supporting euro and the general positive sentiment in the base metal complex. The light metal remained unchanged at $2,233/mt on Friday's ring (05/03).

Daily average primary aluminium output in China fell to 41,700 tons in January from 42,900 tons in December, provisional data from the International Aluminium Institute (IAI) showed. The institute also said primary aluminium production in China fell to 1.292 million tons in January from 1.331 million tons in December.

South Korea has bought 3,000 tons of non-western aluminium ingot for March-April shipping, the state-run Public Procurement Service (PPS) said. Local trading company Hanwha Corp has agreed to supply the metal for April 30 arrival to the port of Incheon at a premium of $94 per tonne over London Metal Exchange cash prices on a cost, insurance and freight (CIF) basis. The purchase came after the agency secured 3,000 tons of western aluminium for the same shipment period at a $117-per-tonne premium over LME cash prices, CIF.