London Metal Exchange (LME) aluminium prices strengthened on October 15, supported by steady demand and improved market sentiment.
The LME aluminium cash bid price stood at USD 2,752 per tonne, up 0.70 per cent from USD 2,733 per tonne on October 14. The cash offer also increased by 0.68 per cent, from USD 2,734 per tonne to USD 2,752.5 per tonne.
Similarly, the three-month aluminium bid rose 0.66 per cent, reaching USD 2,748 per tonne from USD 2,730 per tonne a day earlier. The three-month offer gained 0.60 per cent, climbing to USD 2,748.5 per tonne from USD 2,732 per tonne.
Further along the curve, the December 26 contract also edged higher. The bid was recorded at USD 2,778 per tonne, up 0.54 per cent from USD 2,763 per tonne, while the offer stood at USD 2,783 per tonne, a 0.54 per cent increase from USD 2,768 per tonne.
The LME aluminium 3-month Asian Reference Price on October 15 was reported at USD 2,746 per tonne.
On October 15, LME aluminium opening stock stood at 479,675 tonnes, compared with 503,950 tonnes on October 14, marking a 4.8 per cent decline.
Live warrants fell to 405,700 tonnes from 464,400 tonnes, while cancelled warrants increased sharply to 98,250 tonnes from 14,225 tonnes.
Meanwhile, LME alumina Platts price stood at USD 320.39 per tonne.
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