LME aluminium cash bid rises $43 as alumina prices gain 2.46%

LME aluminium prices advanced on October 30, with cash and futures contracts recording gains. The Asian Reference Price edged lower, while exchange opening stocks and cancelled warrants declined. Alumina Platts prices posted a stronger increase.

Both the cash bid and cash offer rose 1.40 per cent, to USD 3,113.50 and USD 3,114 per tonne, respectively, from USD 3,070.50 and USD 3,071 per tonne. 

Three-month aluminium prices also moved higher. The bid climbed 0.52 per cent to USD 3,078 per tonne from USD 3,062 per tonne. The offer price also advanced 0.52 per cent to USD 3,080 per tonne from USD 3,064 per tonne.

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The December 2027 contract followed the upward trend, with the bid rising 0.40 per cent to USD 2,987 per tonne from USD 2,975 per tonne. The offer followed a similar trend and gained 0.40 per cent to USD 2,992 per tonne. It was at USD 2,980 per tonne previously.

The Asian Reference Price slipped 0.31 per cent to USD 3,069 per tonne from USD 3,078.50 per tonne.

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LME aluminium opening stocks edged down 0.10 per cent to 231,675 tonnes from 231,900 tonnes, while live warrants remained unchanged at 217,450 tonnes. Cancelled warrants fell 3.34 per cent to 13,750 tonnes from 14,225 tonnes.

On October 30, alumina platts prices rose 2.46 per cent to USD 394.50 per tonne from USD 385.01 per tonne.