Aluminium prices on the London Metal Exchange (LME) edged lower on July 28 compared to July 25, with both spot and futures contracts showing a marginal decline.
The cash bid price fell 0.92 per cent from USD 2,656.5 per tonne on July 25 to USD 2,632 per tonne on July 28, while the cash offer also slipped 0.92 per cent to USD 2,632.5 per tonne.
Similarly, 3-month contracts saw modest downward movement. The 3-month bid price dropped from USD 2,655.5 per tonne to USD 2,631.5 per tonne, while the offer price eased from USD 2,656 per tonne to USD 2,632 per tonne, both marking a decrease of approximately 0.90 per cent.
Forward prices also weakened. The December 26 bid price dipped 0.86 per cent to USD 2,665 per tonne, and the offer price slid 0.86 per cent to USD 2,670 per tonne, down from USD 2,688 per tonne and USD 2,693 per tonne respectively.
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The LME 3-month Asian Reference Price dropped 0.15 per cent, from USD 2,635.5 per tonne on July 25 to USD 2,631.5 per tonne on July 28.
In terms of inventory, total LME aluminium opening stocks rose 0.77 per cent to 454,275 tonnes on July 28, up from 450,825 tonnes three days earlier.
Live warrants increased 1.47 per cent to 439,300 tonnes, while cancelled warrants fell slightly by 0.33 per cent to 14,975 tonnes.
Meanwhile, Platts alumina prices remained broadly stable, inching up by 0.05 per cent from USD 369.22 per tonne on July 25 to USD 369.39 on July 28.
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