London Metal Exchange (LME) aluminium prices posted modest gains on October 17, with improvements seen across cash, three-month, and forward contracts, even as warehouse stocks slightly declined.
On October 17, the LME aluminium cash bid price stood at USD 2,789.00 per tonne, up 0.52 per cent from USD 2,774.50 per tonne recorded on October 16. The cash offer price rose 0.52 per cent to USD 2,789.50 per tonne, compared with USD 2,775.00 per tonne previously.
The LME aluminium three-month bid price increased 0.69 per cent to USD 2,774.00 per tonne from USD 2,755.00 per tonne, while the three-month offer advanced 0.74 per cent to USD 2,776.00 per tonne, against USD 2,755.50 per tonne on October 16.
For the forward contract, the December 26 bid price climbed 1.74 per cent to USD 2,803.00 per tonne, while the December 26 offer rose 1.91 per cent to USD 2,808.00 per tonne, compared with USD 2,755.00 and USD 2,755.50 per tonne, respectively, a day earlier.
The LME aluminium three-month Asian Reference Price on October 17 stood at USD 2,777.50 per tonne.
Turning to inventories, the LME aluminium opening stock declined 0.83 per cent to 491,225 tonnes on October 17, from 495,325 tonnes on October 16.
Live warrants were unchanged at 405,650 tonnes, while cancelled warrants decreased 4.57 per cent to 85,575 tonnes, down from 89,675 tonnes a day earlier.
The LME alumina Platts price stood unchanged at USD 318.91 per tonne.
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