On Thursday, November 6, the London Metal Exchange (LME) aluminium price rose after a sharp decline the previous close. However, the LME aluminium 3-month Asian Reference Price continued to show a declining trend.
Both the LME cash bid and offer contracts rose by USD 23 per tonne or 0.81 per cent, and each went up to USD 2,861 per tonne and USD 2,861.5 per tonne.
Similarly, the LME 3-month bid also saw an upward trajectory by USD 25 per tonne or 0.9 per cent, to finally settle at USD 2,871 per tonne. The 3-month offer also widened by USD 25.5 per tonne or 0.9 per cent and is currently at USD 2,872 per tonne.
To know more about the aluminium extrusion and its forecast till 2032, read “The World of Aluminium Extrusions – Industry Forecast to 2032”
The upward movement continued in both the December 26 bid and offer, when the LME price went up by USD 25 per tonne or 0.9 per cent, the bid settled at USD 2,893 per tonne and the offer at USD 2,898 per tonne.
The LME aluminium 3-month Asian Reference Price went down by USD 5.5 per tonne or 0.2 per cent and stood at USD 2,844.5 per tonne, down from USD 2,850 per tonne on November 6.
Concerning LME inventory, a slight decline of 2,075 tonnes or 0.4 per cent had been seen in the opening stock and cancelled warrant and as of November 5, each settled at USD 548,375 tonnes and 41,425 tonnes respectively. The live warrant continued to show no change from the previous close.
The LME alumina Platts price stood at USD 319.25 per tonne, up from USD 315, showing a difference of USD 4.25 per tonne or 1.4 per cent.
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