The start of the week reflected an enhanced London Metal Exchange (LME) aluminium price, where cash, 3-month contract, and forward contract also rose significantly. However, a slight decline has been seen in the opening stock & cancelled warrants.
LME cash bid grew by USD 17.5 per tonne or 0.60 per cent to finally settle at USD 2,902 per tonne, up from USD 2,884.5 per tonne. Concurrently, the LME cash offer settlement also widened by USD 18 per tonne or 0.62 per cent and is at USD 2,903 per tonne, up from USD 2,885 per tonne.
The three-month contract also firmed, with the bid rising by USD 26.5 per tonne or 1.21 per cent to USD 2,906.5 per tonne and the offer up by USD 25 per tonne or 1.26 per cent to USD 2,907 per tonne.
To know more about the aluminium extrusion and its forecast till 2032, read “The World of Aluminium Extrusions – Industry Forecast to 2032”
For forward trades, both the December 26 bid and offer climbed by USD 16 per tonne or 0.55 per cent to USD 2,918 per tonne from USD 2,902 per tonne and USD 2,923 per tonne from USD 2,907 per tonne, respectively.
The LME aluminium 3-month Asian Reference Price increased by USD 18 per tonne or 0.62 per cent and stood at USD 2,902 per tonne on November 03.
Inventories on the LME saw a slight decrease when both the opening stocks and cancelled warrants fell by 3,475 tonnes or 0.62 per cent and each stood at 554,575 tonnes and 47,625 tonnes. The live warrant showed no change from the previous close on October 31.
At the same time, the LME alumina Platts price dipped by USD 4.19 per tonne or 1.3 per cent and was reported at USD 315 per tonne, down from USD 319.98 per tonne.
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