LME aluminium cash price drops to $2,797.5/t as cancelled warrants slide 7.35%

LME aluminium prices eased between November 14 and November 17, with both cash and three-month contracts posting modest declines, while exchange inventories also edged lower.

The LME aluminium cash bid slipped from USD 2,832 per tonne on Nov 14 to USD 2,797.5 per tonne on Nov 17, a drop of 1.22 per cent. The cash offer fell by the same margin, from USD 2,832.5 per tonne to USD 2,798 per tonne.

The three-month bid price decreased 0.77 per cent, moving from USD 2,855 per tonne to USD 2,833 per tonne, while the three-month offer dipped 0.80 per cent to USD 2,834 per tonne from USD 2,857 per tonne.

The December 26 bid price declined 0.73 per cent, falling from USD 2,888 per tonne to USD 2,867 per tonne. The December 26 offer price dropped 0.73 per cent as well, from USD 2,893 per tonne to USD 2,872 per tonne.

LME’s three-month Asian Reference Price on November 17 stood at USD 2,813.5 per tonne.

On the stocks front, LME aluminium opening inventories slipped from 552,375 tonnes (Nov 14) to 550,200 tonnes (Nov 17), down 0.39 per cent.

Live warrants were unchanged at 522,800 tonnes, while cancelled warrants dropped from 29,575 tonnes to 27,400 tonnes, a sharper fall of 7.35 per cent.

LME alumina Platts price stood at USD 318.75 per tonne.

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