LME aluminium prices edged lower on November 7 across spot, 3-month and December contracts, while stocks and live warrants posted marginal increases day-on-day.
The LME aluminium cash bid price slipped to USD 2,840 per tonne on November 7 from USD 2,861 per tonne on November 6 — a decline of 0.73 per cent. The cash offer eased to USD 2,841 per tonne from USD 2,861.50 per tonne, down 0.72 per cent.
The 3-month bid dropped to USD 2,851 per tonne, compared with USD 2,871 per tonne a day earlier, a decrease of 0.70 per cent. The 3-month offer fell to USD 2,851.50 per tonne from USD 2,872 per tonne, down 0.71 per cent.
The December 26 contract also softened, with the bid down to USD 2,878 per tonne versus USD 2,893 per tonne — a 0.52 per cent decline. The offer moved to USD 2,883 per tonne compared with USD 2,898 per tonne previously, also down 0.52 per cent.
The LME aluminium 3-month Asian Reference Price on November 7 stood at USD 2,848 per tonne.
Stocks showed a marginal rise: LME opening stock increased to 549,225 tonnes on November 7 from 548,375 tonnes, up 0.15 per cent.
Live warrants rose 0.51 per cent, to 509,550 tonnes from 506,950 tonnes, while cancelled warrants declined 4.23 per cent, falling to 39,675 tonnes from 41,425 tonnes.
LME alumina Platts price remained unchanged at USD 319.25 per tonne.
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