I don't believe that it does, and if there is any effect, it would be negligeable.
Aluminium is the prime material for air cooling though, but since it's not in direct physical contact with a heat source, all it would do is receive heat from the air in the case, and transmit it to air outside the case. Steel would do that too, but less efficiently.
All in all, there are other factors that are far, far more important in keeping the inside of a case cool, like airflow.
The hype about Alu cases is blown way out of proportion, In My Opinion...
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