LME aluminium cash and three-month prices gain nearly 1%; opening stocks fall 0.5%

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Aluminium prices on the London Metal Exchange (LME) recovered at the close of the July 6 session. Moderate gains were reported across the pricing and contract segments, while the declining trend in inventory continued to persist. 

The LME aluminium cash bid price stood at USD 3,104.5 per tonne on July 6, up 0.81 per cent from USD 3,079.5 per tonne on July 3. The cash offer price also increased by 0.81 per cent to USD 3,105 per tonne from USD 3,080 per tonne.

The LME aluminium three-month bid price rose by 0.84 per cent to USD 3,112 per tonne on July 6 from USD 3,086 per tonne on July 3. The three-month offer price increased by 0.84 per cent to USD 3,113 per tonne from USD 3,087 per tonne.

In the longer-dated contracts, the  December 2027 bid price stood at USD 3,048 per tonne on July 6, up 0.86 per cent from USD 3,022 per tonne on July 3. The offer price also increased by 0.86 per cent to USD 3,053 per tonne from USD 3,027 per tonne.

The LME aluminium three-month Asian Reference Price stood at USD 3,115.5 per tonne on July 6, marking an increase of 0.81 per cent.

LME aluminium opening stocks declined by 0.5 per cent to 298,775 tonnes on July 6 from 300,275 tonnes on July 3. 

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Live warrants remained unchanged at 246,600 tonnes as of the previous session. 

On the other hand, cancelled warrants fell by 6.18 per cent to 48,950 tonnes on July 6 from 52,175 tonnes on July 3.

The LME alumina Platts price remained unchanged at USD 330 per tonne.