LME aluminium cash offer price slips 1.51% to USD 3,797/t on June 3; opening stocks decline to 335,450t

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After the spike in the London Metal Exchange (LME) aluminium prices on the June 2 session, June 3 closed with an easing trend.

The LME aluminium cash bid price declined to USD 3,796.5 per tonne on June 3 from USD 3,854 per tonne on June 2, marking a decrease of around 1.49 per cent.

The LME aluminium cash offer price also eased 1.51 per cent to USD 3,797 per tonne on June 3 from USD 3,855 per tonne in the previous session.

In the three-month contract segment, the LME aluminium 3-month bid price stood at USD 3,721 per tonne on June 3, down 0.83 per cent from USD 3,752 per tonne recorded on June 2. The 3-month offer price fell 0.79 per cent to USD 3,723 per tonne from USD 3,752.5 per tonne.

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Meanwhile, the December 2027 aluminium contract also moved lower over the two trading sessions. The December 27 bid price declined 0.39 per cent to USD 3,292 per tonne on June 3 from USD 3,305 per tonne on June 2, while the offer price slipped 0.39 per cent to USD 3,297 per tonne from USD 3,310 per tonne.

The LME aluminium 3-month Asian Reference Price was recorded at USD 3,703.5 per tonne on June 3, down 1.2 per cent from USD 3,752.5 per tonne on June 2.

On the inventory front, LME aluminium opening stocks fell to 335,450 tonnes on June 3 from 337,700 tonnes on June 2, reflecting a decline of 0.67 per cent.

Live warrants remained unchanged at 254,625 tonnes across both sessions. Similarly, cancelled warrants stood steady at 80,825 tonnes, indicating no change during the period under review. 

LME alumina Platts price remained unchanged at USD 305 per tonne on both June 2 and June 3.

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