ANZ Bank: Aluminum prices remain stable, but supply disruptions may provide support.

ANZ Bank research analysts said in a commentary that supply disruptions could provide support for prices. These analysts said that mining and metals company South32 has confirmed that it still plans to close its Mozal smelter in Mozambique, which is a major source of aluminum supply in the European market. However, analysts at Nanhua Futures said that some investors may also wish to take profits before the Spring Festival, which could bring some downside risk to the metal. The three-month aluminum futures contract on the London Metal Exchange remained flat at $3,099.00 per ton.